Column: Trump 2.0 won’t reverse Biden’s critical minerals push
Donald Trump has described the Inflation Reduction Act (IRA) as a "green scam" and vowed to repeal it after he returns to the White House in January.
Ethos Gold (TSXV: ECC) announced on Tuesday it has closed a non-brokered private placement of flow-through units, raising gross proceeds of C$1.33 million (approximately $1.1 million).
The private placement consisted of 5.55 million units priced at C$0.24 per unit. Each unit comprises one flow-through share and one-half of a non-flow-through common share purchase warrant. Each warrant is exercisable into one Ethos Gold common share at a price of C$0.30 for two years.
Crescat Portfolio Management LLC elected to exercise its participation rights pursuant to a 2020 subscription agreement and acquired all of the units on the back-end. Crescat now owns approximately 15.85 million shares of Ethos, representing approximately 12.7% of those issued and outstanding.
Crescat now owns approximately 15.85 million shares of Ethos, representing about 12% of those issued and outstanding
“We see our investment in Ethos as a stake in multiple high-quality projects across Canada that will be explored by a tier one team led by well-renowned geologist Rob Carpenter,” Dr. Quinton Hennigh, technical advisor to Crescat Capital said in a news release.
“The company recently announced commencement of drilling at its Perk-Rocky porphyry copper-gold project in BC, but this is just the beginning of a long list of exploration objectives this year.”
Ethos has accumulated a portfolio of district-scale projects in British Columbia, Ontario, Quebec, and Newfoundland.
With announcement of the private placement closing, shares of Ethos jumped 5% by midday Tuesday, giving the junior miner a market capitalization of C$37.4 million.
