Working Capital

Formation Metals (FOMTF) announced an upsized C$8.6M financing via LIFE units and a flow-through private placement to advance its N2 Gold Project in Quebec. The funding will increase working capital to ~$13M and the exploration budget to ~$8.5M+, supporting a 20,000-meter drill program. Phase 1, already underway, targets the “A” and “RJ” zones. The offering involves potential dilution and a hold period for flow-through shares. The N2 Gold Project boasts a historical resource of ~870,000 ounces with multiple zones open for expansion.

Revive Therapeutics (RVVTF) is extending its private placement to raise up to $650,000 by issuing units at $0.021 each. Each unit includes a share and a warrant exercisable at $0.05 for 36 months. Having already raised $60,900 in the first tranche, the remaining $589,000 will be used for working capital and settling trade payables. The securities are subject to a four-month and one-day hold period. While providing needed capital, the offering involves significant dilution potential for shareholders.

Silver Elephant Mining (SILEF) sold 3,000,000 Oracle Commodity Holding Corp shares on July 18th and 21st, 2025, generating $60,035. This reduces their stake in Oracle from 31.45% to 28.56% non-diluted (22.27% fully diluted). Proceeds will fund general operations. Silver Elephant retains the option to adjust its Oracle portfolio based on market conditions. They still holds 29,700,110 Oracle shares after the sale.

Permex Petroleum Corporation secured a US$2 million private placement of convertible debentures and warrants. The funds will bolster working capital for general operations and strategic initiatives. Each unit comprises a debenture with a 10% annual interest rate and common share purchase warrants. The financing is intended for accredited investors and closes after a five-day notice period.