Hispania Resources Raises CAD 500,000 for Spanish Mining Projects
Hispania Resources Inc. (TSXV: ESPN), a mineral exploration company focused on Spanish mining opportunities, has successfully completed a non-brokered private placement, raising CAD 500,000.
The company issued 20,000,000 units at $0.025 each, with each unit comprising one common share and one warrant exercisable at $0.05 for 36 months. The proceeds will fund exploration at its three owned mining assets (Otero, Lumbrales, and Puebla de la Reina), general working capital, and administrative expenses. Notably, no commission or finders fees were payable in connection with the offering.
Hispania's leadership team boasts over 120 years of combined experience in mineral exploration and production, including in Spain. Rahim Allani, a related party, subscribed for 1,800,000 units, increasing his stake to approximately 8% on a partially diluted basis. The securities issued are subject to a four-month and one-day hold period.
Hispania Resources Inc. will use the raised funds to advance its mining projects in Spain, with a focus on its three core assets. The company's experienced leadership and strong shareholder support signal confidence in its prospects.
