Capitan Mining Inc. (TSXV: CAPT) has confirmed it plans to increase the size of its previously announced non-brokered private placement from C$3M to C$3.2M.
The company intends to use the net proceeds from the Private Placement to advance drilling and work programmes at the Cruz de Plata silver & gold project in addition to funding working capital and general corporate expenses.
The closing of the Private Placement is expected to occur on or about October 21 2022 and is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
Capitan Mining is a junior exploration company focused on its 100% owned gold and silver Cruz de Plata Silver and Gold Project in Durango, Mexico. The company is led by a management team that has successfully advanced and developed several heap leach operations in Mexico over the past 16 years.
For further information please visit: https://capitanmining.com/
