01:06 PM EDT, 06/07/2024 (MT Newswires) -- Golden Spike Resources ( GSPRF ) said Friday that it plans to raise $600,000 in a non-brokered private-placement of share units.

The company is looking to place 4-million units priced a $0.15 and made up of a share and one half of a two-year warrant for $0.30.

The company has received a lead order from mining financier Eric Sprott. Sprott's investment, combined with his existing substantial shareholding, positions him as an insider with an ownership stake exceeding 10%.

The company plans to use the proceeds for exploration of the Gregory River copper-gold property in Newfoundland and general working capital purposes.

The company's shares were last seen up $0.05 to $0.23 on the Canadian Securities Exchange.

Price: 0.23, Change: +0.05, Percent Change: +28.57