Axion Minerals closes $390,000 flow-through private placement

Axion Minerals Corp. (CSE:AXN) successfully completed a non-brokered flow-through private placement, raising $390,000 in gross proceeds. The company issued 3,000,000 flow-through units, each comprising one flow-through common share and one warrant. The warrants grant holders the right to purchase additional common shares at $0.14 per share for a period of 24 months from the issuance date.

The funds raised will be allocated towards exploration expenses at Axion Minerals’ Cranberry Creek property, with a focus on evaluating the rare earth element potential of the site and identifying key areas for further exploration. The securities are subject to a four-month and one-day statutory hold period under Canadian securities laws.

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