Kraken Robotics Lands $13M in Orders for SAS Units and Underwater Batteries
New Orders Received: Kraken Robotics has secured $13 million in new orders for its synthetic aperture sonar (SAS) and subsea batteries, including a significant order for 10 SAS units from clients in the U.S., Norway, and Turkey.
Integration with UUVs: The SAS and SeaPower battery systems from this order will be integrated into four different types of uncrewed underwater vehicles (UUVs), highlighting the growing preference for Kraken's technology among defense clients due to its superior area coverage and resolution.
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Lux Metals increases private placement to $3.5 million
Private Placement Increase: Lux Metals has increased its private placement from 12.5 million units to 17.5 million units due to strong investor demand, aiming for total gross proceeds of up to $3.5 million.
Unit Composition: Each unit will consist of one common share and one transferable share purchase warrant, with warrants exercisable for an additional share at $0.40 each for two years.
Use of Proceeds: The funds raised will be allocated for exploration costs and general working capital.
Company Information: Additional financial information and ratings for Lux Metals Corp. can be found on Seeking Alpha.
Copper Giant increases private placement to $12 million
Private Placement Increase: Copper Giant Resources has raised the size of its non-brokered private placement from $10 million to $12 million.
Unit Details: The company plans to issue up to 30 million units at C$0.40 each, with each unit consisting of one common share and one-half of a warrant.
Warrant Terms: Each whole warrant will be exercisable at C$0.60 per share for a period of 36 months from the closing date.
Use of Proceeds: The funds raised will be used for working capital and general corporate purposes, pending approval from the TSX Venture Exchange.