12:47 PM EDT, 03/13/2026 (MT Newswires) -- Future Mineral Resources ( SULMF ) on Friday said it closed the first tranche of the non-brokered private placement financing of up to 15-million shares priced at $0.30 each for gross proceeds of up to $4.5 million.

Under the first tranche, the company said it placed 516,666 shares at a price of $0.30 each for gross proceeds of $154,999.80.

The company said that the net proceeds of the first tranche are expected to be used for working capital and general corporate purposes.

The company's shares were last seen down $0.01 to $0.29 on the Toronto Stock Exchange.

Price: 0.29, Change: -0.01, Percent Change: -3.33