Miata Metals Corp. has successfully closed a private placement offering, generating $5.5 million in gross proceeds by issuing 23,913,044 units at $0.23 per unit. Each unit includes one common share and one-half of a transferrable common share purchase warrant, with each warrant allowing the holder to acquire an additional share at $0.40 until August 21, 2027. The company plans to use the funds for exploration activities in Suriname and general corporate purposes. Two directors and an officer participated in the offering, generating $121,002 in proceeds. The company did not file a material change report regarding the related party transactions.

Read more at GlobeNewswire: Miata Metals Closes Upsized Private Placement of $5.5