"This financing puts Titan in a strong position to move Kilbourne forward with clarity and momentum," said Rita Adiani, President & CEO of Titan Mining. "With this capital supporting the next phase, our priority is advancing feasibility work and continuing to build a scalable, U.S.-based natural graphite platform aligned with critical supply-chain needs."
The Offering was completed through the issuance of 6,666,666 special warrants (each, a "Special Warrant") at a price of US$2.25/C$3.10 per Special Warrant, for gross proceeds of approximately US$15 million. Each Special Warrant will, upon satisfaction of certain conditions and for no additional consideration, automatically convert into one common share of the Company and one common share purchase warrant (each, a "Warrant").
Maxim Group LLC acted as exclusive placement agent in connection with the Offering.
Each Warrant will be exercisable for a period of up to three years following issuance, with 50% of the Warrants exercisable at a 35% premium to the Issue Price and the remaining 50% exercisable at a 65% premium to the Issue Price. The Company may call the Warrants if its common shares trade at greater than 150% of the applicable exercise price for 15 trading days within any 30-day period, upon providing 30 days' prior notice.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in ...
