(TSXV: CAPT)
( Capitan or the Company ), is pleased to announce that it has closed its non-brokered equity financing previously announced on April 6, 2021
(the Private Placement ). Pursuant to the Private Placement, Capitan issued 16,000,000 common shares at a price of C$0.20 per Common Share (the Issue Price ) for gross proceeds of C$3,200,000. There were no finders fees paid on the Private Placement.
The proceeds received by the Company will be primarily used to advance exploration and corporate development activities at Capitan s 100%-owned Peñoles Project located in Durango, Mexico, as well as for working capital and general corporate purposes.
All securities issued will be subject to a four-month hold period expiring on September 8, 2021. The Offering remains subject to final acceptance of the TSX Venture Exchange.