Altius Resources, a subsidiary of mineral exploration firm Altius Minerals Corporation, has contributed to a C$8m ($6m) seed round for Canada-based zinc exploration startup Adventus Zinc Corporation.
Altius was joined by private equity fund Greenstone Resources, Resource Capital Funds, Equinox Funds, angel investor John Tognetti, directors Mark Wellings and Sally Eyre, and company chief executive and president Christian Kargl-Simard.
Adventus has acquired a portfolio of zinc exploration projects in Ireland and Eastern Canada from Altius, and plans to buy up additional projects over the next year. It has also filed to raise C$3m in an initial public offering in its home country.
Christian Kargl-Simard said: “I am thrilled with the depth and level of support received in the $8m strategic seed financing round. Adventus Zinc has the right backers and people, and now is the perfect time to be positioning a new zinc vehicle in the markets.
“We have high aspirations of making Adventus Zinc the next mid-tier base metals company through exploration and corporate development activities.”