TSX-V-listed Strongbow Exploration has increased the nonbrokered private placement financing, announced earlier this month, from $2-million to $2.35-million.
The proceeds will be used for a drill programme at the company’s South Crofty tin project in the UK, and for general working capital purposes.
Completion of the private placement is subject to certain conditions, including the approval of the TSX-V.
All securities issued as part of this private placement will be subject to a hold period of four months and one day from the date of issuance of the securities.