07:04 AM EDT, 10/18/2024 (MT Newswires) -- Mayfair Gold ( MFGCF ) overnight Thursday said it raised $6 million in a non-brokered private placement.

The company issued 3.34 million shares, priced at $1.80 each. Company insiders subscribed for 1.64 million shares representing $2.95 million of proceeds.

Proceeds will be used for permitting and feasibility studies, general expenses and working capital.