Canada-listed MegaWatt Lithium and Battery Metals Corp. will accelerate the exploration of in-demand battery minerals, using $CSE800,000 from selling company shares.
MegaWatt, holding interests in battery mineral projects in Canada and Australia, offered shares at 18 Canadian cents with net proceeds from the sale to be used to fund the exploration of the company’s Australian and Canadian projects.
As uranium trades at multi-year highs of over $US42 a pound, the British-Columbian company is accelerating the development of uranium properties at the highly prospective and geographically advantaged Artic Fox and Isbjorn projects in Australia’s Northern Territory.
The company also issued 2,500,000 incentive stock options to directors, officers, and consultants with a 5-year exercise price of $0.20 per share as part of the offer, closing on November 9, 2021.
MegaWatt’s Canadian Securities Exchange-listed shares were trading at 18.5c (10:34 am GMT+ 8 hours).