Crescat Portfolio Management LLC elected to exercise its participation rights pursuant to a 2020 subscription agreement and acquired all of the units on the back-end. Crescat now owns approximately 15.85 million shares of Ethos, representing approximately 12.7% of those issued and outstanding.
“We see our investment in Ethos as a stake in multiple high-quality projects across Canada that will be explored by a tier one team led by well-renowned geologist Rob Carpenter,” commented Dr. Quinton Hennigh, technical advisor to Crescat Capital.
“The company recently announced commencement of drilling at its Perk-Rocky porphyry copper-gold project in BC, but this is just the beginning of a long list of exploration objectives this year.”
Ethos, a Discovery Group company, has accumulated a portfolio of district-scale projects in British Columbia, Ontario, Quebec, and Newfoundland.
With announcement of the private placement closing, shares of Ethos jumped 5% by midday Tuesday, giving the junior miner a market capitalization of C$37.4 million.
