InvestmentOct 19, 2026, 09:01 AM
Quartz Mountain Closes $1.7 Million Unit Financing
AI Summary
Quartz Mountain Resources Ltd. announced the closing of a $1.7 million private placement of units. The company now has a working capital of $4 million. A portion of the proceeds will be used for exploration of the company's British Columbia gold-silver-copper projects, with the remainder for general working capital.
Key Highlights
- Quartz Mountain Resources Ltd. closed a private placement of 4,247,500 units for gross proceeds of $1.7 million.
- The company's total current working capital position is now $4 million.
- 1,500,000 FT Units were issued to Robert Dickinson, Chairman, and his associates.
- 1,500,000 Units were issued to The Sutton Group Inc., an insider.
- Net proceeds from FT Units will fund exploration of BC gold-silver-copper projects.
- Proceeds from non-FT Units will fund exploration and general working capital.
Price Impact
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