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Astra Exploration Receives $1,025,000 from Early Exercise of Warrants, and Commences Drilling at La Manchuria, Argentina
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2025) - Astra Exploration Inc. (TSXV: AS...
About this update from Astra Exploration Inc
[{"type":"text","content":"Astra Exploration Receives $1,025,000 from Early Exercise of Warrants, and Commences Drilling at La Manchuria, ArgentinaVancouver, British Columbia--(Newsfile Corp. - April 22, 2025) - Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) (FSE: S3I) (\"Astra\" or the \"Company\") is pleased to announce that it has received proceeds of approximately C$1,025,000 related to the exercise of 10,250,000 warrants. The warrants were issued in relation to a private placement completed in November 2024, with an expiry of November 7, 2025. As of the date of this news release, the Company now has 94,670,103 common shares issued and outstanding. Astra's CEO, Brian Miller commented: \"The early exercise of warrants is a major boost of confidence and keeps the company's share structure closely held by our foundational long-term investors. The shares issued in the November 2024 financing, and this warrant exercise are both restricted for trading until November 2025, which demonstrates the commitment of these investors. The early exercise was led by Michael Gentile, Mason Resources, and members of the Astra management team. The funds from this warrant exercise, plus $1,000,000 from the recently-announced non-brokered private placement offering, would bring the treasury balance to over C$3,000,000. We are also pleased to announce that drilling is underway and on-schedule at La Manchuria, where testing for extensions of near-surface, high-grade gold and silver veins has commenced in previously undrilled areas. Astra shareholders are at a watershed moment as the Company accelerates through multiple catalysts while precious metals restore their historic role as hedge against inflation and market volatility.\" An insider of the Company, Michael Gentile, has increased his shareholdings via the exercise of 3,708,333 warrants. The warrants, acquired through a private placement transaction completed in November 2024, had an exercise price of $0.10 and were set to expire on November 7, 2025. After consideration of this transaction, Mr. Gentile owns 17,925,000 shares representing 18.93% of the Company on a non-diluted basis. Commencement of Drilling at La ManchuriaDrilling equipment was mobilized to the La Manchuria project during the week of March 31st, and drilling commenced early the week of April 6th. The program will consist of approximately 2,500 metres...