IRIS Metals raised $7.5 million through a placement at $1 per share, bringing in new investors from the northern hemisphere.
Proceeds from the placement will be utilised to fund growth activities, including resource drilling, regional exploration, and acquisition initiatives at its premier hard rock lithium project in South Dakota, USA.
The ongoing drilling program at the Beecher Project confirmed wide spodumene intercepts, showcasing exceptional intersections.
IRIS Metals Chairman Simon Lill aims to acquire $50,000 worth of shares through the placement, pending approval.