Ragnar Metals (ASX:RAG) is making a significant $1.205 million cornerstone investment in High-Tech Metals (ASX:HTM) through a placement, aimed at bolstering the latter’s exploration activities. The investment grants Ragnar Metals, which currently holds a market capitalization of $9.47 million, the right to appoint a director to High-Tech Metals’ board following the settlement. High-Tech Metals has issued approximately 8.4 million shares at a price of $0.15 per share, raising a total of $1.261 million. Additionally, the company issued 6.66 million options, exercisable at $0.25 on or before January 19, 2026.
The capital injection will be strategically deployed to expedite exploration across High-Tech Metals’ project portfolio. These activities include forthcoming drilling programs, heritage surveys, and covering general working capital needs. High-Tech Metals’ primary asset is situated near the Ontario-Manitoba border within the Kenora Mining District. This district, known as the Werner Lake Geological Belt, contains cobalt-copper and base metals showings, deposits, and previously operational mines. Ragnar Metals focuses on developing a diverse portfolio of gold, nickel, copper, and lithium projects.
