Electrum Discovery Corp. closes oversubscribed private placement of units

On October 10, 2024, Electrum Discovery Corp. ("Electrum") (TSX-V:ELY |FRA:R8N |OTC:ELDCF) announced the close of the final tranche of its oversubscribed non-brokered private placement of units at a price of $0.07 per unit. In the final tranche, Electrum sold 21,987,570 units to raise gross proceeds of $1,532,830. In total, the company issued 32,597,854 Units for gross proceeds of $2,281,850, which will be used for the continued exploration of its Timok East copper-gold project.

Electrum Discovery Corp. is an emerging mineral exploration and development company focused on the Western Tethyan Belt with two main projects spanning 645 square kilometers of prospective exploration ground in the Republic of Serbia.

Gowling WLG advised Electrum Discovery Corp. on this transaction with a team that included Brett Kagetsu, Tara Amiri, and James Stewart with assistance from paralegal Toni Vodola.