The mining firm will issue 24M units to fund advancement of its Pimentón Project in Chile.
Irruptive Metals announced a $30M bought-deal private placement with underwriters. The company will issue 24M units at C$1.25 each, with each unit comprising one common share and half a warrant. Two units grant one full warrant, exercisable at a later date.
The financing aims to accelerate development of the Pimentón Project, a copper-gold asset in Chile. No prior funding round for this project was disclosed, though the company has previously secured capital for exploration activities. The placement reflects growing investor interest in critical metals.
Shares of Irruptive Metals were halted pending the announcement, with trading expected to resume shortly.