Taranis Resources Inc. has completed its previously announced private placement, raising gross proceeds of $220,000 to advance exploration activities at its Thor property in southeastern British Columbia.

The financing consisted of the sale of 1,100,000 flow-through units at a price of $0.20 each. Every unit comprises one flow-through common share and one common share purchase warrant. The attached warrants entitle holders to purchase an additional common share at $0.20 until September 2, 2028. All securities issued under the placement are subject to a statutory Canadian hold period running until January 3, 2027.

Capital raised from the offering will be directed straight into the ground to incur further exploration expenses at the property. Specifically, proceeds are allocated for drilling at the Borr Zone, located 1.3 kilometres southeast of the main Thor deposit, with the objective of expanding the zone outward from its initial 2025 discovery location.

This upcoming drilling program supports the broader operational evolution of the project. Taranis has completed 15 years of methodical exploration across the land package, compiling a comprehensive database from more than 250 drill holes to define an NI 43-101 Mineral Resource at Thor.

In the trading session coinciding with the announcement that the financing had closed, shares of Taranis are currently trading flat at $0.12.

Read the full announcement: Taranis Resources Inc. Announces Closing of Private Placement