- Infinity Stone Ventures Corp. (GEMS) has closed a non-brokered private placement for gross proceeds of $1,600,000 and a non-brokered private placement for gross proceeds of $500,000
- The company believes the ASX listing will position the company better in the Australian market
- CEO Zayn Kalyan sat down with Daniella Atkinson to discuss the news
- Infinity Stone is a technology company developing and delivering SaaS solutions for the public and private sectors
- Infinity Stone Ventures Corp. opened trading at C$0.265 per share
Infinity Stone Ventures Corp. (GEMS) has closed two private placements for gross proceeds of $2,100,000.
The company issued 6,400,000 units at a price of $0.25 per unit. Each unit is made up of one Class A Subordinate Voting Share and one-half of one share purchase warrant.
Each whole warrant is exercisable into one share at a price of $0.50 for a period of two years from the date of issuance.
The company also issued 1,428,571 flow-through units for gross proceeds of $500,000.
Each FT unit consists of one Class A Subordinate Voting Share and one-half of one share purchase warrant.
Each whole warrant is exercisable into one share at a price of $0.45 for a period of three years from the date of issuance.
CEO Zayn Kalyan sat down with Daniella Atkinson to discuss the news.
“With the closing of our combined flow-through and non-flow-through offerings, we are excited to welcome the participation of several Australia-based institutions. The well-developed and educated Australian institutional and retail market has a deep understanding of the value and critical need for battery mineral exploration projects, and we believe the distribution in Australia will help provide ISV greater exposure for the company’s lithium assets, ultimately realizing a stronger valuation and upside for our shareholders.”
The net proceeds from the offering will be used for exploration expenses and general working capital.
The company believes the ASX listing will position the company better in the Australian market, which has many well-established lithium companies listed on the ASX with hard rock lithium projects in Canada.
Infinity Stone is a technology company developing and delivering SaaS solutions for the public and private sectors with a mission to be a diversified, single-source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio.
Infinity Stone Ventures Corp. (GEMS) opened trading at C$0.26 per share.