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TORONTO - Mink Ventures Corporation (TSXV:MINK), a junior mining company with a market capitalization of $2.21 million, announced Thursday a non-brokered private placement offering to raise up to $500,000 to fund exploration activities at its nickel-copper-cobalt projects in Ontario. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet.
The offering consists of hard dollar units priced at $0.10 and flow-through units at $0.13. Both unit types include one common share and one purchase warrant exercisable at $0.20 for 36 months. The stock, which has shown high price volatility according to InvestingPro analysis, has delivered an impressive 84.62% return year-to-date, though current prices suggest the stock may be trading above its Fair Value.
Proceeds from the offering will primarily support exploration at the company’s Montcalm nickel-copper-cobalt project, which covers approximately 100 square kilometers adjacent to Glencore’s former Montcalm Mine, and the 11.3 square kilometer Warren copper-nickel project. Hard dollar proceeds will also fund general working capital needs.
The flow-through shares will qualify as Canadian exploration expenses and flow-through critical mineral mining expenditures, with qualifying expenditures to be renounced to initial purchasers effective no later than December 31, 2025.
The company expects the initial closing of the offering around October 15, 2025, subject to TSX Venture Exchange approval. Securities issued will be subject to a four-month and one-day hold period.
Mink may pay finder’s fees of up to 8% cash and issue non-transferable warrants to acquire up to 8% of the number of units sold to investors introduced by certain parties.
The company currently has 25,678,888 common shares outstanding. With a healthy current ratio of 5.83, Mink Ventures demonstrates strong short-term financial stability. According to the press release statement, both the Montcalm and Warren projects have good road access and infrastructure, and are located near the Timmins Mining Camp. For deeper insights into Mink’s financial health and additional investment metrics, investors can access more exclusive analysis on InvestingPro, which offers 6 additional ProTips and comprehensive financial data.
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