On July 21, 2021, Novamera Inc. completed a Series A equity financing led by BDC Capital Inc. for an aggregate amount of approximately $5 million. The financing will primarily fund Novamera’s full field trial of the Sustainable Mining by Drilling (“SMD”) solution. The field trial, which is taking place at Anaconda Mining’s project site in Newfoundland, has commenced and will be ongoing until the end of November. Novamera is carrying out a proof of concept, testing the entire SMD system and process.
Cassels acted for Novamera.