Mink Ventures doubles private placement to $1 million on investor demand

TORONTO - Mink Ventures Corporation (TSXV:MINK), a mining exploration company with a market capitalization of $2.4 million, announced Thursday it has doubled the size of its previously announced non-brokered private placement from $500,000 to $1 million due to increased investor demand. The company’s stock has shown remarkable momentum, delivering a 116.67% return over the past year, according to InvestingPro data.

The expanded offering will consist of hard dollar units priced at $0.10 each and flow-through units at $0.13 each. Both unit types include one common share and one purchase warrant exercisable at $0.20 for 36 months after issuance. InvestingPro analysis reveals the company maintains a healthy liquidity position with a current ratio of 5.83, though it currently trades at a premium valuation with a Price/Book ratio of 18.4x.

Proceeds from the offering will fund exploration at the company’s Montcalm nickel-copper-cobalt project and Warren copper-nickel project in Ontario, with a portion of the hard dollar unit proceeds allocated for general working capital.

The flow-through shares will qualify as Canadian exploration expenses and flow-through critical mineral mining expenditures under the Income Tax Act, with qualifying expenditures to be renounced to initial purchasers by 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 certain introducing parties, according to the press release statement.

The Montcalm project covers approximately 100 km² adjacent to Glencore’s former Montcalm Mine, which historically produced 3.93 million tonnes of ore grading 1.25% nickel, 0.67% copper, and 0.051% cobalt. The company’s Warren Project spans 11.3 km². Investors seeking deeper insights into MINK’s financial health and growth potential can access additional ProTips and detailed metrics through InvestingPro’s comprehensive analysis platform.

In other recent news, Mink Ventures Corporation announced a private placement offering aimed at raising up to $500,000. The funds are intended to support exploration activities at the company’s nickel-copper-cobalt projects in Ontario. This non-brokered offering includes hard dollar units priced at $0.10 and flow-through units at $0.13. Each unit comes with one common share and one purchase warrant, which can be exercised at $0.20 over a 36-month period. These developments are part of the company’s ongoing efforts to advance its exploration projects. The announcement underscores Mink Ventures’ strategy to secure funding for its resource exploration initiatives. Investors may find the offering terms and the focus on exploration noteworthy.

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