Group Eleven Resources Corp.: A $1.5 Million Private Placement Announcement
Vancouver, BC, Canada – Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE), a mineral exploration company, recently announced a non-brokered private placement (the “Offering”) with the potential to raise gross proceeds of up to CAD 1,500,000. The Offering comprises of up to 7,894,736 units (each, a “Unit”) priced at CAD 0.19.
Details of the Private Placement
Each Unit consists of one common share and one-half of one non-transferable share purchase warrant (each whole warrant, a “Warrant”). The Warrants will be exercisable at CAD 0.30 for a period of 24 months from the closing date of the Offering. The net proceeds from the Offering will be used for exploration and development activities, working capital, and general corporate purposes.
Impact on Group Eleven Resources
This private placement will significantly bolster Group Eleven’s financial position, allowing the company to advance its exploration projects more aggressively. With the additional funds, Group Eleven can expand its drill programs, conduct more extensive geological studies, and potentially bring new projects to the forefront. This investment could lead to increased shareholder value as the company moves closer to discovering and developing mineral resources.
Impact on the Mining Industry and the World
The mining industry is a critical sector for the global economy, providing essential minerals and metals for the production of various goods and technologies. Group Eleven’s private placement is a positive sign for the industry, indicating investor confidence in the sector’s potential for growth and profitability. This investment could lead to increased exploration and development activities, potentially discovering new mineral resources and contributing to the global economy.
Conclusion
Group Eleven Resources’ CAD 1.5 million private placement is an encouraging development for the mining industry and its investors. With the additional funds, Group Eleven can accelerate its exploration efforts, potentially leading to new discoveries and increased shareholder value. Furthermore, this investment is a positive sign for the mining industry as a whole, indicating investor confidence and the potential for growth and prosperity in the sector.
- Group Eleven Resources announces CAD 1.5 million non-brokered private placement
- Up to 7,894,736 Units to be sold at CAD 0.19 each
- Each Unit consists of one common share and one-half of one Warrant
- Net proceeds to be used for exploration, working capital, and general corporate purposes
- Impact on Group Eleven: Financial boost for exploration and development activities
- Impact on Mining Industry and the World: Positive sign of investor confidence and potential for growth
