Mogotes Metals Inc. (TSXV: MOG) has announced a non-brokered private placement of up to 75,000,000 units at C$0.20 per unit, aiming to raise gross proceeds of up to C$15M. Each unit will consist of one common share and one-half of a common share purchase warrant, with each whole warrant exercisable at C$0.40 for two years following closing.
Proceeds will support exploration and development at the company’s Filo Sur property in Argentina, as well as general working capital needs.
In a major strategic development, Argentina’s Braun family, through a related entity, will invest C$9M in the offering, becoming a significant shareholder. Carlos Braun will also join Mogotes’ board of directors. The Braun family, tied to Bunge Global’s founding lineage, brings over a century of business experience in Latin America and deep regional expertise.
The company has entered into an investor rights agreement with the Braun entity, granting rights such as pre-emptive and top-up participation in future financings, and board representation, contingent on maintaining at least a 5% ownership stake.
For more information, visit www.mogotesmetals.com
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