Stocks in play: PolyMet Mining Corp.
Today announced preliminary results that indicate successful conclusion of its approximately US$195 million rights offering following the expiration of the subscription period, at 5:00 p.m. (Toronto time) on April 4. The company intends to use the net proceeds of the rights offering and standby commitment for: (a) repayment of costs related to the rights offering and repayment of all of its unsecured and secured and convertible debt owed to Glencore AG ("Glencore") which, as at January 31, was US$97 million, with additional interest accruing of approximately US$800,000; (b) funding the company's portion of NewRange Copper Nickel LLC, a 50:50 joint venture the company entered into with Teck Resources Limited ("Teck") on February 14; and (c) general corporate purposes. PolyMet Mining Corp. shares T.POM are trading down $0.06 at $2.80.
Read:
Global Lithium Supply Under Pressure as South American Nations Discuss "Lithium OPEC"
International Lithium Buyers Looking to South America to Fill Supply Gaps
Race to Secure Critical EV Battery Metals Ahead of Chinese Dominance Fully Underway
Help is on the Way as Rising Alzheimer’s Cases Highlight Urgency for New Treatments
FDA’s Wave of Fast Track Designations Pushing Momentum in Healthcare Sector in 2023