What's Happening?
Pivotal Metals is raising $5.4 million through a multi-faceted financing offer to fund drilling across its Belleterre Project in Québec, Canada. The company plans to use the funds to drill new targets,
including the Alotta conductor, which extends from high-grade mineralization intersected in previous drilling. The drilling is expected to start late in Q4 2025. The financing includes an institutional placement to raise $2.5 million by issuing 227.27 million shares at a discount to the 15-day volume weighted average price. Additionally, Pivotal will raise C$2.62 million through a flow-through share placement, facilitated by Canadian share dealer Wealth Creation Preservation & Donation. Managing Director Ivan Fairhall highlighted the strong demand and support from investors, underscoring confidence in the scale and quality of the company's projects.
Why It's Important?
This financing marks a pivotal moment for Pivotal Metals as it enables the company to advance its exploration activities in Québec, a region known for its mineral wealth. The successful raising of funds reflects investor confidence in Pivotal's ability to unlock the potential of its projects, particularly the Belleterre Project, which hosts drill-ready targets associated with a high-grade mineralizing system. The exploration program is expected to enhance Pivotal's resource base and potentially lead to significant discoveries, contributing to the company's growth and the development of critical mineral resources in Canada. This could have broader implications for the mining industry, attracting further investment and boosting economic activity in the region.
What's Next?
With a fully funded exploration program, Pivotal Metals is well-positioned to commence drilling activities at the Belleterre Project in December 2025. The company will focus on exploring the Alotta conductor and other targets, aiming to expand its resource base and identify new mineral deposits. As the exploration progresses, Pivotal may seek additional financing opportunities to support further development and potential production activities. The company will continue to engage with strategic, institutional, and sophisticated investors to secure long-term support for its projects.
