Franconia Minerals updates on private placement
Franconia Minerals Corp. (TSX:FRA) reported that the company has increased the size of its private placement, previously announced on January 7, 2010, to a maximum of 9,400,000 special warrants for aggregate gross proceeds of $4.23 million if the underwriters’ option is exercised in full.
Franconia Minerals Corp. (TSX:FRA) reported that the company has increased the size of its private placement, previously announced on January 7, 2010, to a maximum of 9,400,000 special warrants for aggregate gross proceeds of $4.23 million if the underwriters’ option is exercised in full.
The press release is quoted as saying:
Franconia is currently focused on the development of the Birch Lake copper-nickel-platinum-palladium project – consisting of the Birch Lake, Maturi and Spruce Road deposits – in the highly prospective Duluth complex in northeastern Minnesota.