Morocco Strategic Minerals (TSXV: MCC) announced the closing of its non-brokered private placement, raising gross proceeds of $7.5 million Canadian dollars. The funds will be used to accelerate the company's mining exploration and development projects in Morocco.
The placement involved the issuance of units at a price of $0.25 per unit, with each unit consisting of one common share and one-half of a share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at $0.35 for 24 months.
Proceeds will support exploration at the company's key projects, including the Bou Azzer and other mineral properties in Morocco. The company focuses on strategic minerals such as cobalt, copper, and gold.
