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Mirasol plans C$5m private placement

Mirasol Resources (TSXV:MRZ) aims to raise C$5 million (US$3.9 million) through a private placement to further explore and test gold and silver projects in Argentina’s Santa Cruz province.
Mirasol plans C$5m private placement Mirasol plans C$5m private placement Mirasol plans C$5m private placement Mirasol plans C$5m private placement Mirasol plans C$5m private placement

Exploration at Mirasol's Claudia project

Staff reporter

The placement will include 2.5 million units at $2 each, with each unit comprising one common share and one half of a non-transferrable warrant, which are exercisable into an additional common share for a 24-month period at a price of $3 per share.

The company expects to close the placement on or around June 15, subject to certain conditions.

Mirasol is a project generator that aims to expand its exploration strategy to accelerate the drill testing of its gold, silver and copper project portfolio.

It will use the proceeds to fund drill testing of select high-grade gold and silver targets, while allowing joint venture partners to fund drill testing of its larger scale, higher risk and higher reward targets.

In October, OceanaGold agreed to earn up to 75% of Mirasol's Claudia gold and silver exploration project in Santa Cruz. This was their second collaboration after signing a JV agreement earlier in 2017 for an option for OceanaGold to earn up to 75% of Mirasol's La Curva project in the same province.

Mirasol's shares were trading at $1.93 Wednesday, down 0.52%.