Arras Minerals Corp. Announces Successful Exercise of Warrants, Raising C$4 Million
VANCOUVER, BC, March 17, 2025 – Arras Minerals Corp. (TSX-V:ARK)(OTCQB:ARRKF) (“Arras” or the “Company”), a mineral exploration and development company, is thrilled to share that all 10,134,332 common share purchase warrants (the “Warrants”) issued on June 6, 2024, have been exercised by the holders. This accelerated exercise of Warrants has generated gross proceeds of C$4,053,733 for Arras.
Background on Warrants
The Warrants were issued as part of a private placement financing in June 2024. Each Warrant gave the holder the right to purchase one common share of Arras at an exercise price of C$0.40 until June 6, 2026. Arras announced on February 12, 2025, that it would be exercising its right under the terms of the Warrants to accelerate the expiry date to March 16, 2025.
Impact on Arras Minerals Corp.
The successful exercise of all Warrants has resulted in a significant cash inflow for Arras. This financial boost will enable the Company to advance its mineral exploration and development projects more efficiently. Arras is currently focused on its flagship project, the DeGrussa Copper-Gold Project in Western Australia. The funds raised through the Warrant exercise will be used to further explore and develop this promising asset, as well as for general corporate purposes.
- Funds raised will be used for:
- Exploration and development of the DeGrussa Copper-Gold Project
- General corporate purposes
Impact on the Mining Industry and Economy
The successful exercise of Arras Minerals’ Warrants is a positive sign for the mining industry and the global economy. The influx of capital into Arras will allow the company to advance its projects, potentially leading to increased employment opportunities and economic growth in the regions where Arras operates. Additionally, a successful financing round for a mining company can boost investor confidence in the sector as a whole.
Conclusion
Arras Minerals Corp.’s successful exercise of its common share purchase warrants has brought in C$4 million for the Company. This significant cash infusion will be used to advance Arras’ mineral exploration and development projects, particularly its flagship DeGrussa Copper-Gold Project in Western Australia. The positive impact of this financing event extends beyond Arras, as it contributes to the mining industry and the global economy by creating employment opportunities and boosting investor confidence.
Arras Minerals Corp. continues to demonstrate its commitment to creating value for its shareholders and stakeholders through strategic exploration and development initiatives. Stay tuned for updates on the Company’s progress.
About Arras Minerals Corp:
Arras Minerals Corp. is a mineral exploration and development company focused on the discovery, acquisition, and development of mineral projects in North America and Australia. The Company’s primary focus is the DeGrussa Copper-Gold Project in Western Australia. Arras’ mission is to create value for its shareholders by making exploration discoveries and developing projects into profitable operations.
