Junior financing roundup: Neo Lithium, VVC, San Marco

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Thursday, November 2, 2017

Toronto's VVC Exploration, which is exploring for copper and gold in Mexico, said it extended the term for a Cdn$2mn (US$1.56mn) private placement by an additional month.

The offering will now close by November 30, VVC said in a statement. The funds will go toward exploration at its Samalayuca, Cumeral and La Tuna projects, according to the company.

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VVC added it also completed a Cdn$203,500 debt conversion through the issue of shares and warrants.

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Toronto-based Neo Lithium, which seeks to develop the Tres Quebradas project in Catamarca, Argentina, said a Cormark Securities-led syndicate of underwriters agreed to acquire 10.3mn shares in the company to raise Cdn$20mn.

The share offering is expected to close by November 21, Neo Lithium said in a statement.

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Vancouver's San Marco Resources, which has the Chunibas copper-gold project in Sonora, Mexico, said it completed a Cdn$1.52mn private placement.

San Marco raised 20% more than originally expected from the offering, according to a statement.