Valore Metals Secures CDN$2M for Brazilian Platinum Exploration and Growth
Valore Metals Corp. has launched a non-brokered private placement to raise up to CDN$2,000,000. The funds will support exploration at its Pedra Branca Platinum Group Elements Project in Brazil and potential new acquisitions in the region. The company plans to issue convertible unsecured debentures with a 6% annual interest rate. These will mature after 18 months. Investors can convert the principal into units at $0.12 per unit after a six-month waiting period.
Each unit includes one common share and half of a warrant. A full warrant allows the holder to buy an extra share at CDN$0.15 for up to 36 months. The Pedra Branca Project covers 51,096 hectares across 45 exploration licences in northeastern Brazil. A 2022 report estimated its inferred resources at 2.198 million ounces of 2PGE+Au, grading 1.08 g/t within 63.6 million tonnes of material. James R. Paterson, Chairman of Valore Metals Corp., oversees the company’s strategic direction as it pushes forward with this financing round.
The raised capital will directly fund further exploration at Pedra Branca and potential new ventures in Brazil. The debentures offer investors both interest payments and the option to convert into company shares at a fixed price.
