Spartan Metals Corp. Raises CAD 2.25M for Eagle District Project
Spartan Metals Corp. (TSX-V: W) has successfully closed a non-brokered private placement, raising CAD 2,250,000. The company issued 7,500,000 units at CAD 0.30 per unit. Each unit consists of one common share and one-half of one warrant, exercisable at CAD 0.45 per share until March 25, 2027.
The financing round for the Eagle District project in Nevada was represented by Swiss Resource Capital AG. Insiders of the Company participated in the financing for an aggregate amount of 893,332 units. The Company paid aggregate cash finder's fees totaling CAD 49,809 and issued 166,030 finder's warrants. Spartan Metals Corp. is focused on developing critical minerals projects in the Western United States, with an emphasis on Tungsten, Rubidium, Antimony, Bismuth, and Arsenic. Spartan's flagship project is the Eagle District Project in eastern Nevada, consisting of the highest-grade historic tungsten resource in the USA and significant under-defined resources of various minerals. All securities issued are subject to a four-month and one-day hold period, expiring on January 26, 2026.
Proceeds from the private placement will be used to advance the Eagle District Project in Nevada and for general working capital. This funding will support Spartan Metals Corp.'s mission to develop critical minerals projects in the Western United States.
