06:08 AM EDT, 09/20/2024 (MT Newswires) -- ValOre Metals ( KVLQF ) overnight Thursday announced a non-brokered private placement to raise $3.6 million to advance exploration of its Pedra Branca project in Brazil.

The company will issue up to 47.5 million units at $0.075 apiece. Each unit will consist of one share and one 36-month warrant which can buy an additional share for $0.10.

The shares rose 20% on Thursday to $0.06.