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An announcement from Sorrento Resources Ltd. ( (TSE:SRS) ) is now available.
Sorrento Resources Ltd. has successfully closed a non-brokered private placement, raising $375,000 to support exploration activities at its Lord Baron and Harmsworth projects, repay outstanding loans, and for general working capital. Notably, Eric Sprott, a significant investor, increased his stake in the company, now holding approximately 13.7% of the shares on a non-diluted basis. This financing round is expected to bolster the company’s exploration efforts and strengthen its market position.
More about Sorrento Resources Ltd.
Sorrento Resources is engaged in the acquisition, exploration, and development of mineral property assets in Canada. The company focuses on locating and developing economic precious and base metal properties, including the Wing Pond, Lord Baron projects, the PEG lithium project, and the Harmsworth (VMS) project, all located in Newfoundland.
Average Trading Volume: 8,866
Technical Sentiment Signal: Sell
Current Market Cap: C$2.43M
Find detailed analytics on SRS stock on TipRanks’ Stock Analysis page.