12:49 PM EST, 12/10/2024 (MT Newswires) -- AuMEGA Metals ( AUMMF ) on Tuesday said it closed the second and final tranche of its private placement of common and flow-through shares, raising $7.3 million.

The company issued 128.04-million shares in a combination of hard dollar, flow-through, traditional flow-through and premium flow-through shares.

AuMEGA raised $8.77 million and issued 131-million shares in tranche one of the private placement.

Proceeds from the financing will be used to advance AuMEGA's exploration program in Newfoundland and Labrador, which is expected to include up to 20,000 meters of drilling at the highly prospective Bunker Hill Project.

AuMEGA shares were last seen down $0.01 to $0.045 on the TSX Venture Exchange.

Price: 0.05, Change: -0.01, Percent Change: -18.18