Tocvan Secures $2.1 Million in Private Placement for Gran Pilar Project

Tocvan Ventures Corp. announced the closing of the first tranche of its private placement, raising $2.1 million. A significant portion, $1.8 million, came from UK institutional investor Sorbie Bornholm LP, marking their continued investment since 2022. The placement involved issuing 4,386,083 Units at $0.48 each, with each Unit including a common share and a warrant. The warrant allows purchase of an additional share at $0.75 for 36 months.

Proceeds will fund exploration at the Gran Pilar Gold-Silver Project in Sonora, Mexico. Tocvan's CEO, Brodie Sutherland, announced that funds will advance drilling, permit new targets, and prepare for a pilot mine in 2025. Additionally, Tocvan issued finders' warrants and paid commissions to third-party finders.

The initiative aligns with Tocvan's strategic expansion in Sonora, where it holds significant interests in high-potential mineral projects.