08:29 AM EDT, 09/11/2024 (MT Newswires) -- Culico Metals ( CULMF ) on Wednesday said it will raise up to $1.6 million through a non-brokered private placement. The company will issue 25 million common shares at $0.064 each.

Some officers and directors are expected to subscribe to the offering, the proceeds of which will fund due diligence and other costs for potential transactions and for general corporate purposes, the company said.

The offering is scheduled to close by September 24.