Patriot Battery Metals Halts Trading on ASX, Prepares Announcement on Capital Raising for Freeman Creek Gold Property Acquisition
Patriot Battery Metals Inc. (ASX: PMT), a Canadian mining company specializing in battery metals and precious metals, has requested a trading halt on the ASX pending the release of an announcement related to a capital raising. The halt will remain in place until the earlier of normal trading resuming on July 12, 2023, or the announcement being released to the market.
According to a report by MarketScreener, the capital raising announcement is expected to be tied to Patriot's recent acquisition of the Freeman Creek Gold Property in Idaho, USA. This property houses two historical gold mines and offers significant exploration potential for gold and copper mineralization.
Blair Way, the CEO and Managing Director of Patriot Battery Metals, described the acquisition of the Freeman Creek Gold Property as a strategic move for the company. He emphasized that it would provide exposure to the US market and diversify the company's portfolio of battery metal projects.
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Patriot's shares were last traded at A$0. 125 on July 9, 2023, resulting in a market capitalization of A$41. 04 million.
Investors and stakeholders eagerly await the forthcoming announcement from Patriot Battery Metals, which will shed light on the details of the capital raising initiative and its implications for the company's expansion into the US market.
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