Infinity Stone Ventures Corp (CSE:GEMS) said it has closed a new fundraising round designed to advance work on its critical energy metals portfolio in Canada.
The firm announced that it has closed a non-brokered private placement of 1.25 million flow-through units at a price of $0.40 per flow-through share for gross proceeds of $500,000.
Under the terms of the financing, each flow-through unit is comprised of one share and one-half of one warrant, exercisable into one share at a price of $0.65 for a period of two years from the date of issuance.
READ: Infinity Stone Ventures intersects pegmatite intervals in winter drill program at Buda lithium project
In connection with the offering, Infinity Stone issued 87,500 finders' warrants, and paid finder's fees of $35,000. Each finders' warrant is exercisable at a price of $0.65 for a period of two years from the date of issuance.
Infinity Stone recently intersected pegmatite intervals in winter drill program at Buda lithium project in Ontario.
The firm’s mission is to be a diversified, single-source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS (Software-as-a-Solution) portfolio.
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