Baridi Iceland Completes USD 7 Million Private Placement
Baridi Iceland hf., the parent company of Baridi Group Ltd., has completed a USD 7 million equity raise through a private placement. The investor group consists of both Icelandic and international private investors. The proceeds of the raise will be used to set up and operationalize the company’s first copper processing plant near the company’s mining license area in the vicinity of Dodoma, the capital of Tanzania.
Fossar Corporate Finance acted as advisor to Baridi and managed the placement.
Baridi Group was founded in 2022 by Kristinn Már Gunnarsson and has secured a license portfolio of over 2,000 km² with access to critical minerals such as copper, graphite, lithium, and nickel. Since its founding, the company has placed strong emphasis on social responsibility through the Baridi Future Foundation.
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