11:21 AM EDT, 07/03/2025 (MT Newswires) -- Great Pacific Gold ( FSXLF ) on Thursday said it closed a brokered private placement offering for proceeds of $16.9 million.

The company said it issued 37.7-million units priced at $0.45 each and made up of a share and one half of a three-year warrant to buy a second share for $0.70.

Proceeds from the sale of the units will be used for drilling at the Wild Dog Project in Papua New Guinea, additional exploration activities in the country and for general and administrative expenses and working capital purposes.

Shares of the company were last seen down $0.005 to $0.40 on the TSX Venture Exchange.

Price: 0.40, Change: -0.01, Percent Change: -1.23