Fox River closes fully subscribed non-brokered private placement
Published by Emilie Grant,
Editorial Assistant
World Fertilizer,
Fox River Resources Corp. has announced the closing of the previously announced non-brokered private placement (the Offering). The Offering was fully subscribed for 7 500 000 common shares (the Shares) of the company at a price of $0.40 per Share for gross proceeds of $3 000 000.
The proceeds will be used to advance Fox River’s Martison Phosphate Project in Ontario, with a focus on better understanding ore variability, finalizing the PPA process, additional metallurgical test work, geophysical surveying, and advancing the proposed fertilizer conversion complex, as well as for working capital and general corporate purposes. The Shares issued pursuant to the Offering are subject to a four month and one day hold period, in accordance with applicable securities laws. After closing the Offering, the Company has an unaudited cash balance of approximately $6 300 000.
Read the article online at: https://www.worldfertilizer.com/project-news/12122024/fox-river-closes-fully-subscribed-non-brokered-private-placement/
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