Southern Cross Britannia Announces Closing of USD 370,000 non-brokered Private Placement

LONDON--(BUSINESS WIRE)--Southern Cross Britannia, the London based mineral exploration company with a focus on South America, announced the closing of its non-brokered $370,000 seed financing round today, with investments from undisclosed angel investors.

The company will use the seed funding to advance mineral exploration across its core areas of Bolivia, Paraguay and Argentina, where it has identified and acquired an enviable exploration acreage position.

Southern Cross was founded to take advantage and profit from the global move to renewable energy. "Our mission is to build a world class mineral exploration portfolio and provide and secure ethically sourced green energy raw materials supply", said Christian Möbius, founder and CEO of Southern Cross Britannia.

As the decarbonification of economies and electrification of mobility gains momentum, an increased demand for "green metals" such as copper has pushed prices above 7000 USD/tonne. China's pledge in September 2020 that the world's second largest economy would be carbon neutral by 2060 will likely lead to a focus on renewable energy in the country's next five-year plan, which starts in 2021. In the United States, Democratic presidential candidate Joe Biden promised a $2tn green energy and infrastructure plan if he wins the elections in November.

Copper is emerging as one of the key ways for investors to gain exposure to a rollout of more wind, solar, batteries and electric cars, due to the metal's use in electric wiring. Analysts at leading global investment banks said metals such as copper could enter a green-tinted bull market.

About Southern Cross Britannia

Southern Cross is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on green energy metals. Its geographical focus lies on underexplored frontier exploration areas with excellent geological potential which have been overlooked in the past due to unfavourable political and fiscal conditions. The company has applications pending for over 50,000 hectares of mining property in the Andes mountains. Southern Cross is committed to the highest standards of environmental and social responsibility with a focus on generating positive outcomes and returns to all stakeholders.