Canadian North Resources has received a massive $17.75 million injection from the early exercise of warrants, it has recently been announced. The injection is a welcome windfall for the resource exploration and development company, which is focused on creating opportunities through the exploration and acquisition of resource assets in Canada.
The announcement of the $17.75 million injection was made on March 12, 2021. The site of the injection was the early exercise of 8,000,000 common share purchase warrants. These warrants were issued as part of a financing round that Canadian North Resources undertook in January 2021. During that financing round, the company issued 33,500,000 common share purchase warrants in order to raise $51 million.
This injection of $17.75 million will provide Canadian North Resources with a critical financial boost that will be used to fund exploration, development, and other activities. The company says that they are pleased with the response of their shareholders, who chose to exercise their warrants before the April 7, 2021 expiration date.
The injection of $17.75 million from the early exercise of warrants is a positive development for Canadian North Resources. The funds will be used to bolster the company’s exploration and development efforts, and continue to strengthen the company’s position as a leader in resource exploration and development in Canada. It is clear that investment into the company is strong and growing, which bodes well for the future of the company.