The shares of Casa Minerals Inc (OTCPink: CASXF) closed the last session at $ 0.1986 after rising 85.96% with 42.71 million outstanding shares. Casa stock has changed hands for 14K shares, closing at a market capitalization of $8.48M. CASXF stock rises after initial tranche of a private placement closes.

CASXF had a private placement, what was it?

Casa recently announced that it has closed its first tranche of $ 2,050,000 under the non-brokered private placement announced on May 18, 2021.

• 400,000 units of CASXF were sold at a price of $0.125 per unit in the initial tranche.
• The Unit is made up of a common share of CASXF and a warrant for the purchase of a common share.
• For the period of one year following closing, that is May 20, 2022, the holder of each Warrant will have the right to acquire one additional share from CASXF at a price of $0.30.
• The TSX Venture Exchange has granted conditional approval to the CASXF Offering and is expected to approve it in final form.
• In cases where the closing price of the share on the TSX Venture Exchange (the “Exchange”) exceeds $0.45 for 10 consecutive trading days, the CASXF may, at its sole discretion, elect to provide notice to the warrant holders.
• A news release may announce the acceleration of the expiration date of the warrants at 4:00 p.m. 30 days after the date on which the Acceleration Notice was issued (Vancouver time).
• In this case, up to thirty-five days after the Accelerated Expiry Date, all Warrants of CASXF will expire.

Moving forward with CASXF’s private placement:

Casa (CASXF) hopes to complete the second tranche balance of the Private Placement by the end of this month.