Zeus North America Mining Corp. has announced an expansion of its previously disclosed non-brokered private placement, originally revealed on July 30, 2024.
The company now plans to issue up to 5,664,400 units at a price of $0.25 each, aiming to raise gross proceeds of up to $1,416,100.
Structure of the units
Each unit will consist of one common share and one share purchase warrant. These warrants will allow holders to purchase an additional common share for $0.35, valid for two years following the closing date of the placement.
Use of proceeds
Zeus North America Mining Corp. may also pay finder’s fees on part or all of the placement, which remains contingent on regulatory and exchange approvals.
Funds raised from this private placement will primarily support exploration initiatives for Zeus’s Idaho copper projects, notably the flagship Cuddy Mountain project. Additionally, the capital will be allocated for general working capital needs.
Regulatory considerations
The completion of this private placement is subject to certain conditions, including obtaining necessary approvals and acceptance by the Canadian Securities Exchange.
It is important to note that this announcement does not constitute an offer to sell or a solicitation to buy securities in the United States.
The securities being offered have not been registered under the U.S. Securities Act of 1933 or any state securities laws and cannot be sold in the United States without proper registration or exemption from the registration requirements.
