This is telling: Gold, silver, and copper explorer Aztec Minerals (WKN A2DRF0 / TSXV AZT) not only “had to” increase its financing to CAD 3.6 million due to high demand, but was also able to announce the addition of a highly renowned institutional investor from mining circles!
As just came over the ticker, the Canadian company has now closed an oversubscribed private placement, issuing 20,000,000 units at a price of CAD 0.18, resulting in net proceeds of CAD 3.6 million for the company. Originally, only CAD 3 million was planned, but the amount was significantly increased due to strong investor demand.
Crescat Capital On Board as Strategic Shareholder
Additionally, as Aztec CEO Simon Dyakowski explained, it is highly encouraging that the company was able to add Crescat Capital as a new strategic institutional investor. Crescat Capital, with its technical director Dr. Quinton Hennigh, is highly respected in industry circles and is involved – among others – in several successful companies such as Goliath Resources or Sitka Gold, which we have been following on Goldinvest.de for some time.
Regarding the units, each consists of one common share of Aztec at CAD 0.18 and half a warrant. Each whole warrant entitles the holder to purchase one Aztec share at CAD 0.24 for a period of three years from the closing of the financing. Incidentally, the company’s CEO and CFO also participated in the placement, acquiring a total of 450,000 Aztec units.
Aztec Minerals intends to use the fresh capital to advance exploration work on its gold-silver and CRD silver-lead-zinc-copper-gold project Tombstone in the US state of Arizona, as well as the gold and copper project Cervantes in the Mexican state of Sonora. The Cervantes project is an emerging porphyry gold-copper discovery, while the Tombstone project is an emerging gold and silver discovery with high-grade CRD silver-lead-zinc potential in southern Arizona. We will be examining the company more closely, which already appears promising to us in many respects, and will provide a background article as soon as possible!
