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Morocco Strategic Minerals Raises $7.5 Million Via Private Placement

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-- Morocco Strategic Minerals (MCC.V) closed its previously announced non-brokered private placement, raising total proceeds of $7.5 million.

The company issued 50.1-million units at $0.15 apiece, as part of the offering. Each unit consists of one common share and one half of one common share purchase warrant with each warrant entitling its holder to buy a share for $0.25 until May 4, 2028.

Proceeds will be used to fund the acquisition and development of mining assets in Morocco, and for the company's general and corporate working capital needs. Insiders have participated in the private placement and were issued a total of 1.2-million units, for $186,500.

Shares of the company were last seen unchanged at $0.175 on the TSX Venture Exchange.

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