Portofino Resources Inc (OTCMKTS:PFFOF) Announces Private Placement Financing

Vancouver-based Canadian company focusing on developing and exploring mineral resource projects, Portofino Resources Inc (OTCMKTS:PFFOF), on September 17, 2021, announced arranging non-brokered private financing for $500,000 priced at $0.08 per Unit. Every unit will be comprising of a common share as well as one share purchase warrant.

Every warrant will be having a term of three years starting on the closing date and will entitle the holder for purchasing a single share at a price of $0.12 during the term. The closing would be based on TSXV Exchange approval and shares would be subjected for a four-month hold period. The proceeds from the financing will be harnessed for exploration, which includes the Argentina lithium project, Yergo, working capital as well as general corporate activities.

Portofino South of Otter and Bruce Lake projects are located in the gold mining district of Red Lake, Ontario, Canada, which is close to the high-grade Dixie gold project owned by Great Bear Resources Ltd. Portofino. The firm owns Gold Creek property, which is located close to the south of the historic Shebandowan Nickel-Copper mine. The firm’s green energy projects include the Yergo Lithium property encompassing the entire AparejosSalar, located in the world-renowned “Lithium Triangle” in Argentina as well as Allison Lake North Lithium project.