02:11 PM EDT, 10/17/2025 (MT Newswires) -- Iconic Minerals ( ICMFF ) on Friday said it will look to raise up to $2.55 million in private placement of share units.

The company said, subject to exchange approval, it will place up to 30-million units priced at $0.085 each and made up of a share and one half of a two-year warrant to buy a share for $0.17.

The company said that the proceeds raised will be used fund drilling and advance the exploration program on its New Pass gold property in Nevada, and for general working capital purposes.

The company's shares were last seen down $0.005 to $0.08 on the TSX Venture Exchange.

Price: 0.08, Change: -0.01, Percent Change: -5.88