Metal Source Mining secures $1.02 million funding from Eric Sprott

Metal Source Mining Inc. (CSE: MSM) (OTCQB: SFRIF) (FSE: E9Z) announced a non-brokered private placement financing of 3.4 million units at $0.30 per unit, generating gross proceeds of $1.02 million.

Eric Sprott, through his corporation 2176423 Ontario Ltd., served as the sole investor in the offering. Each unit includes one common share and half of one transferable warrant, with each full warrant allowing the purchase of an additional common share at $0.40 within two years.

The transaction is expected to close by December 31, 2025, pending regulatory approvals including those from the Canadian Securities Exchange. Securities issued will be subject to statutory hold periods under Canadian securities laws.

The company provided an exploration update on its Silver Hill Project, where drilling is underway with Hole 4 completed. Additional drill holes are planned for the current exploration phase, with analytical results pending.

Metal Source Mining is a Canadian exploration company focused on precious and base metal projects in mining-friendly jurisdictions. The information is based on a company press release statement.

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