11:11 AM EDT, 07/24/2024 (MT Newswires) -- Callinex Mines ( CLLXF ) on Wednesday said it closed a non-brokered private placement of flow-through and common share units that raised $2.1 million, above its original $1.5 million target.

The company placed 753,412 common-share units priced at $1.25 each for proceeds of up $0.94 million, and 543,700 Manitoba flow-through units at $2.12 each, raising $1.15 million.

Each common-share unit consists of a share and half a warrant. Each flow-through unit is made up of a tax-advantaged share and half of one warrant to be issued on a non-flow-through basis. Each warrant is exercisable into one additional common share for two years at an exercise price of $2.00.

The company's shares were last seen up $0.01 to $1.05 on the TSX Venture Exchange.

Price: 1.05, Change: +0.01, Percent Change: +0.96