Aquitaine Metals Corp. has completed a non-brokered private placement, issuing 8,208,989 common shares at C$5.50 per share for gross proceeds of C$45,149,440. The financing increases the company's total issued and outstanding common shares to approximately 45.9 million.

The capital injection is directed primarily toward accelerating exploration at the Limousin Gold and Critical Metals Project in Nouvelle-Aquitaine, France, with funds dedicated to expanding drilling activities and increasing metres drilled. Through its wholly owned French subsidiary CMA, Aquitaine is advancing the Limousin project, which encompasses 330 square kilometres of exploration licenses and 23 past-producing small-scale gold mines operated historically by COGEMA between 1988 and 2002.

Proceeds may also be deployed as general working capital, to expand technical infrastructure and exploration capacity, strengthen technical and management teams, advance detailed technical research programs, and support ongoing hydrogeological, environmental, and community engagement initiatives.

Aquitaine is conducting an ongoing Phase 1 diamond drill program at the Limousin Project to expand drilling activities and increase metres drilled. Prior to the financing, the company conducted Phase 1 drilling across the project, targeting areas such as Laurieras and Moulin de Cheni to test extensions of high-grade gold and critical metals.

Alongside the financing, Aquitaine strengthened its leadership team by appointing Lyle Braaten to its board of directors and Max-Julian Vignaud as Vice President, Public and Environmental Affairs.

“This financing is a major milestone for Aquitaine and gives us the financial capacity to significantly increase the pace and scale of exploration at Limousin,” said Chris Taylor, CEO of Aquitaine Metals.

“We are grateful for the support we received from our existing shareholders, who accounted for approximately half of the financing, while also welcoming a strong group of new investors to Aquitaine. The financing included participation from institutional investors in France and elsewhere in Europe, South America and North America, demonstrating the broad international interest in the Limousin Project. Our priority now is to increase our drill rig count, significantly increase the number of metres drilled and systematically advance the many compelling targets across the Project.”

— Chris Taylor, CEO of Aquitaine Metals

The company's expanded financial capacity is expected to support ongoing field programs as the team works to advance targets across the 330-square-kilometre district.

Read the full announcement: Aquitaine Metals Closes C$45 Million Private Placement and Expands Leadership Team