Labrador Iron Mines Holdings Ltd (LBRMF)

[Lonewolf6]

Have faith and be patient.

"Labrador Iron Mines Holdings Limited announced that it has received CAD 5.2256 million in funding from Scully Royalty Ltd.

On July 6, 2022, Labrador Iron Mines Holdings Limited closed the transaction. The company amended the terms of the transaction. The company issued CAD 3,919,200 ($3 million) in equity and CAD 1,306,400 ($1 million) in convertible credit facility for aggregate gross proceeds of CAD 5,225,600 ($4 million).

The company raised equity from Scully Royalty Ltd. against a 7.4% stake. As part of the transaction, Samuel Morrow of Scully Royalty Ltd. will join the company's board of directors."