07:10 AM EDT, 06/18/2024 (MT Newswires) -- Bedford Metals ( URGYF ) earlier Tuesday said that it plans to raise up to $5 million via a non-brokered private placement as part of plans to enhance exploration and development activities across its portfolio of mineral projects.

The offering comprises up to 2.2 million common shares priced at $2.25 each.

The company plans to use the funds to accelerate exploration programs, evaluate strategic growth opportunities, and for general corporate purposes.

On Monday, the shares were unchanged at $2.15.