Spartan Metals raises CA$5.5M in private placement to fund critical minerals projects in the US.

Spartan Metals Corp. closed a private placement raising CA$5.5 million by issuing 10 million units at CA$0.55 each. Each unit includes one common share and half a warrant, allowing purchase of additional shares at CA$0.85 until April 29, 2027, with an acceleration clause if share price exceeds CA$1.10. Insiders participated with 300,000 units, and the company paid finder’s fees and issued finder warrants. Funds will support exploration projects focused on strategic defense minerals like tungsten and rubidium in the Western US. The securities are subject to a four-month hold period and are not registered for sale in the US.