09:13 AM EDT, 05/03/2024 (MT Newswires) -- Getchell Gold ( GGLDF ) said Friday that it completed the third and final tranche of its previously announced debenture financing.

The company raised about $1.4 million in the just-completed tranche of the non-convertible debentures.

As part of the financing, the company issued about 14.4 million warrants. Each debenture warrant allows the holder to buy a common share at $0.10 per share until May 2, 2027. Also, the company said 50% of the debenture warrants vested on closing, and the remaining 50% will vest and be exercisable on July 2, 2025.

Combined with the first and second tranches of the debenture financing, the company issued non-convertible debentures of about $4.4 million and about 43.5 million debenture warrants.

The company plans to use the proceeds from the third tranche to pursue exploration work on the company's properties and for general working capital.

The company's stock fell nearly 7% in Canada yesterday.