Junior corporate roundup: Coro, TriStar, Source, Royal Road

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Friday, April 21, 2017

Chile-focused Coro Mining closed the final tranche of a non-brokered private placement of shares for gross proceeds of Cdn$4.82mn (US$3.57mn). The placement has raised a total of Cdn$16.2mn, a press release said.

Proceeds, the Vancouver-based company affirmed, will be used to fund the acquisition of Minera Rayrock, for continued exploration at its Marimaca copper project near Antofagasta and for working capital purposes.

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Brazil-focused TriStar Gold said in a statement the country's mineral production department DNPM published in the official gazette an announcement approving the main exploration report of the company's Castelo de Sonhos gold project.

Arizona-based TriStar can now move forward with converting the major central part of the project area to a mineral concession.

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Source Exploration filed articles of amendment to change its name to Mexican Gold Corp, effective immediately, and will start trading under the new name, and ticker symbol MEX, on the TSX-Venture Exchange, a press release from the Thunder Bay, Ontario-based firm said.

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Toronto's Royal Road Minerals closed a non-brokered private placement of units with Polygon Mining Opportunity Master Fund for gross proceeds of Cdn$750,000, according to a statement.

The company plans to use the proceeds for general working capital purposes, including to complete the acquisition of Caza Gold in Nicaragua and to finance the repayment of Caza's outstanding indebtedness.