Prismo Metals Announces Closing of Private Placement and Debt Settlement Transactions

Vancouver, BC / ACCESSWIRE / June 19, 2024 / Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF) has closed its non-brokered private placement, raising $1,147,500 through 6,750,000 units. Each unit includes one common share and a half-warrant, with each whole warrant exercisable for one common share at $0.25 for 24 months.

CEO Alain Lambert welcomed new investors and expressed enthusiasm for the upcoming drilling phases at the Palos Verdes silver project and the Hot Breccia copper project in Arizona. President Steve Robertson highlighted the strategic importance of the Hot Breccia project.

Proceeds will fund the Palos Verdes drilling and general purposes, with potential reallocation for business reasons. In addition, 198,449 finder's warrants and commissions totaling $32,441.49 were issued. Securities are under a four-month hold period per Canadian laws.

The company also completed debt settlements, issuing 628,206 units and 873,000 shares at $0.17 to settle $255,205 in debts. Additionally, 225,000 stock options were granted, exercisable at $0.21 for five years.