01:43 PM EDT, 03/21/2025 (MT Newswires) -- Alpha Exploration ( ALXPF ) on Friday rose 6% after the company said it is raising $6 million through a non-brokered private-placement of share units.

The company is looking to place 8.6-million units priced at $0.70 each and made up of a share and one half of an 18-month warrant to buy a second share for $1.05.

The company intends to use proceeds to fund ongoing exploration work on the Kerkasha Project in Eritrea, operating and administrative expenses, working capital and general corporate purposes.

Shares of the company were last seen up $0.04 to $0.70 on the TSX Venture Exchange.

Price: 0.70, Change: +0.04, Percent Change: +6.06