12:26 PM EDT, 06/16/2025 (MT Newswires) -- Getchell Gold ( GGLDF ) on Monday closed a private placement financing of share units, raising $4 million, along with converting the first tranche of existing debentures into share priced at $0.20 per unit.

According to a statement, the principal amount of $3.61 million debentures and accrued interest of $543,841.20 were converted into share units, on the same terms as the offering, with an 82.8% conversion rate.

The completion of financing includes a $1.2-million order from lead investor, Myrmikan Gold Fund LLC., and proceeds of the offering will fund the 2025 drill program at the Fondaway Canyon gold project in Nevada.

"With the close of the offering behind us, we can return our focus to getting back to the field and discovering more gold in the ground," said board chair Bob Bass.

The company's shares were last seen down $0.01 to $0.25 on the Canadian Securities Exchange.

Price: 0.25, Change: -0.01, Percent Change: -3.85