10:50 AM EDT, 06/06/2025 (MT Newswires) -- Matador Technologies ( MATAF ) was at last look up near 20% on Friday after it closed the final tranche of its previously announced near $1.5 million non-brokered private placement. This involved the issuing of an aggregate 2,347,903 units at a price of $0.62 each.

The company, in total, issued more than 7.4 million units in three tranches to raise proceeds of $4.6 million. Securities issued in connection with the third tranche of the offering are subject to a statutory hold period expiring on October 7, 2025.

Proceeds are expected to be allocated about one-third to the purchase of Bitcoin, to advance its gold acquisition and Grammies business initiatives and for general corporate purposes.

Shares of the company were last seen up $0.23 at $1.430 on the TSX Venture Exchange.

Price: 1.45, Change: +0.25, Percent Change: +20.83