Business
Portofino Resources Announces Fully Subscribed $508,000 Financing
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2023) - PORTOFINO RESOURCES INC. (TSXV: POR) (OTCQB: PFFOF) (FSE: POTA) ("Portofino" or the "Company") w
About this update from Latam Lithium Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - July 24, 2023) - PORTOFINO RESOURCES INC. (TSXV: POR) (OTCQB: PFFOF) (FSE: POTA) (\"Portofino\" or the \"Company\") wishes to announce that it has arranged a \"fully subscribed\" non-brokered private placement financing for $508,000 priced at $0.04 per Unit. Each Unit will consist of one common share and one share purchase warrant. Each Warrant has a term of 36 months commencing on the Closing Date and entitles the holder to purchase one common share at a price of $0.06. Management is subscribing for a minimum of $30,000 of this financing. David Tafel, CEO, comments: \"We appreciate the support from our all our investors during a challenging financing environment. In addition, and including this most recent subscription, Management has directly invested close to $600,000 into Portofino over the last few years.\" The majority of the proceeds from the financing shall be used for exploration related activities on Portofino's lithium projects with approximately 10% for non-arms length payments and 10% for investor relations and corporate communications and the balance for working capital and general corporate activities. Closing will be subject to TSXV Exchange approval, and any shares issued will be subject to a four-month hold period. About Portofino Resources Inc. Portofino is a Vancouver-based Canadian company focused on exploring and developing mineral resource projects in the Americas. Portofino has an opportunity to earn a majority interest in several lithium projects in Salta, Argentina and up to 100% of the Yergo Lithium property in Catamarca. The properties are situated in the heart of the world-renowned Argentine Lithium Triangle and in close proximity to multiple world-class lithium projects. The Company also has the right to earn 100% interest in three northwestern Ontario, Canada lithium projects: Allison Lake North, Greenheart Lake and McNamara Lake. Portofino's South of Otter and Bruce Lake projects are in the historic gold mining district of Red Lake, Ontario, Canada proximal to the Dixie gold project discovered by Great Bear Resources and now owned by Kinross Gold Corp. In addition, Portofino holds three other northwestern Ontario gold projects; the Gold Creek property located immediately south of the historic Shebandowan mine, as well as the Sapawe West and Melema We...