03:48 PM EST, 11/21/2024 (MT Newswires) -- Hemlo Explorers ( CNOBF ) on Thursday afternoon announced a non-brokered private placement to raise up to $250,000 by issuing up to about 2.9-million flow-through shares priced at $0.085 each.

The company said the proceeds will be used for exploring and advancing its Central Newfoundland projects and for general corporate purposes.

The shares will be subject to a four-month hold period. The offering is set to close on Monday, the company added.

Hemlo shares were last seen up $0.005 to $0.065 on the Canadian Securities Exchange.

Price: 0.07, Change: +0.01, Percent Change: +8.33