Infinity Stone Ventures draws Australian support for $2.1m raising

Investors have demonstrated their support for CSE-listed Infinity Stone Ventures by backing two separate private placements to raise a total of C$2.1m ($2.37m) to fund exploration.

Notably, several Australian institutions participated in the non-brokered private placement of 6.4 million units priced at C25c to raise C$1.6m and the private placement of more than 1.4 million flow-through units (FT unit) priced at C35c to raise a further $500,00.

This interest from Australian institutions is well-timed given the company’s engagement of Foster Stockbroking to provide capital markets advisory services in relation to a proposed Australian Securities Exchange listing.

Infinity Stone believes an ASX listing will provide the company with greater access to existing and new investors.

This is particularly true in light of significant interest from the Australian market in its lithium projects such as Camaro, which is adjacent to Patriot Battery Metal’s (PMET) Corvette Lithium Discovery in James Bay, Quebec.

“With the closing of our combined flow-through and non-flow-through offerings, we are excited to welcome the participation of several Australia-based institutions,” chief executive officer Zayn Kalyan said.

“The well-developed and educated Australian institutional and retail market has a deep understanding of the value and critical need for battery mineral exploration projects.

“We believe the distribution in Australia will help provide ISV greater exposure for the company’s lithium assets, ultimately realising a stronger valuation and upside for our shareholders.”

Placement details

The larger placement consists of units, each comprising one Class A Subordinate Voting Share and half of a share purchase warrant.

Each whole warrant is exercisable into one share at a price of C50c and expire two years from the date of issuance.

Meanwhile, each FT unit consists of one Class A Subordinate Voting Share and half of a FT share purchase warrant (FT Warrant), which is exercisable into one share at C$45c for a period of three years from the date of issuance.

Net proceeds from the offering will be used for exploration expenses and general working capital.

The company has also successfully changed the ticker which its Class A Subordinate Voting Shares trade on the OTC Market from TLOOF to GEMSF, which is more closely aligned with its Canadian symbol (CSE:GEMS) and easier for current and new shareholders to find.

Lithium exploration

Infinity Stone recently kicked off initial lithium exploration at its Camaro project, which consists of the Taiga, Hellcat and Camaro property blocks which cover about 3,850 hectares of ground.

These are directly adjacent to the PMET’s Corvette lithium discovery where drilling had returned hits such as 159.7m grading 1.65% lithium oxide and 193 parts per million tantalum and 70.1m at 2.22% lithium oxide and 147ppm tantalum.

It intends to use its exploration toolbox, which includes Artificial Intelligence and Machine Learning Models developed by Axiom Exploration Group to maximise its exploration budgets and obtain the highest probability of success.

This article was developed in collaboration with Infinity Stone Ventures, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.