Rain City Resources, Inc. (TSE:RAIN) has released an update.
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EMP Metals Corp. has secured a US$3 million loan facility from Tembo Capital to support land payments and working capital, with funds available for drawdown until the end of 2024. The agreement includes the issuance of common share purchase warrants to Tembo, potentially increasing their influence in the company. Shareholder approval is being sought to allow Tembo to become a “Control Person” of EMP Metals.
For further insights into TSE:RAIN stock, check out TipRanks’ Stock Analysis page.
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