Prismo Metals announced the successful closing of its previously announced non-brokered private placement (the “Private Placement”), raising gross proceeds of $1,147,500 through the issuance of 6,750,000 units of the Company.
“We welcome several new investors as shareholders of Prismo Metals,” said CEO Alain Lambert. “We look forward to getting the next phase of drilling underway at our Palos Verdes silver project and finalizing the permitting for the upcoming drill campaign at our Hot Breccia copper project in Arizona.”
“Completion of the financing brings us one step closer to drilling at Hot Breccia. This project is a rare opportunity to test a highly prospective target in one of the best locations possible. This is the right project at the right time, and I am personally very excited to get the drill turning to test the target our team has identified,” stated Steve Robertson, President of Prismo Metals.
The Company intends to use the proceeds from the Private Placement to fund drilling at its Palos Verdes project and for general working capital purposes. However, there may be circumstances where, for sound business reasons, a reallocation of funds is necessary.
Prismo Metals also announced the addition of Steve Robertson to our management team. Mr. Robertson, a seasoned geologist with over 35 years of experience in the mining industry, has played pivotal roles in advancing projects from exploration through to production. His career includes positions with major and mid-tier producers, as well as several C-suite roles at junior resource companies.
During his 24-year tenure at Imperial Metals, Mr. Robertson was responsible for overseeing exploration, government relations, permitting, community relations, aboriginal affairs, and corporate communications. Notably, he led the exploration team that conducted the deep drilling program at Red Chris, uncovering the deposit's significance as a world-class porphyry copper system.
