3 Financings You Need to Know About This Week (May 30-June 3)

June 3, 2022 02:49 PM PST

1.  Probe Metals Inc. (TSX-V: PRB)

  • Gross Proceeds: $9.3 million
  • Sector: Precious metals
  • Units issued: 5.31 million
  • Type: Special units
  • Price: $1.75
  • Warrants: Half; $2.40; Two years
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Gold junior with a resource of 4.11 Moz of gold with projects in Quebec
  • Started a 10,000-metre drill program in May on its Detour Quebec and Midland La Peltrie JV projects
  • Shares of the company have dropped since it reported 16.4 metres of 6 grams of gold per tonne at Val d'Or East

2. EarthRenew (CSE: ERTH)

  • Gross Proceeds: $9.5 million
  • Sector: Regenerative agriculture
  • Units issued: 38 million
  • Type: Special units
  • Price: $0.25
  • Warrants: Full; $0.32; Four years
  • Agents: Eight Capital
  • Use of Proceeds: Acquisition and expansion

Company breakdown:

  • Sustainable agriculture company that focuses on soil regeneration and fertilizers
  • Shares climbed since February after the company reported $15.1 million in revenue
  • Shares have dropped after the company announced the private placement

3. Ultra Lithium (TSX-V: ULT)

  • Gross Proceeds: $7.03 million; $2 million
  • Sector: Battery metals
  • Type: Units; Flow-through shares
  • Price: $0.235; $0.25
  • Warrants: Half; $0.30; One year
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Lithium and gold explorer with projects in Argentina, Canada, and the US
  • Recently acquired further properties and entered into a joint venture
  • Shares have been on the decline since March

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