08:24 AM EDT, 06/26/2025 (MT Newswires) -- Churchill Resources ( CRICF ) , which saw its shares drop 30% on Wednesday, appointed current director Conan McIntyre as its chief executive, as Paul Sobie steps down from the role and continue in his capacity as President to focus on exploration activities in Newfoundland and Labrador.

The company, on Thursday, also announced a non-brokered private placement of common shares to raise proceeds of up to $700,000. The private placement which will comprise of up to 14 million common shares at $0.05 apiece, is expected to close on or about July 9.

Proceeds will be used for the advancement of exploration activities at its key projects and for general corporate purposes.

Shares of the company closed down $0.015 to $0.035 on Wednesday on the TSX Venture Exchange.