04:35 PM EDT, 06/13/2025 (MT Newswires) -- Marimaca Copper ( MARIF ) on Friday said it closed the second tranche of a non-brokered private placement for aggregate gross proceeds of approximately US$17.7 million (C$24.43 million).

According to a company statement, it issued an aggregate of 811,416 common shares at a price of C$4.60 per share, to funds managed by a new, unnamed institutional investor.

An aggregate of 5.31 million shares were issued under the first and second tranche, with net proceeds to be used for exploration, to advance the company's flagship Marimaca Copper Project located in Chile and for general corporate purposes.

The company's shares closed down $0,25 to $5.60 on the Toronto Stock Exchange.