12:21 PM EDT, 07/03/2024 (MT Newswires) -- MCF Energy ( MCFNF ) was last seen down 9.4% after the company on Wednesday said it will look to raise $2.5 million from a non-brokered private placement of share units.

The company will look to place 16.67-million units in the financing, with each priced at $0.15 and made up of a share and a two-year warrant to buy a second share for $0.16.

Proceeds are earmarked for working capital and general corporate purposes.

The company's shares were last seen down $0.015 to $0.145 on the TSX Venture Exchange.

Price: 0.15, Change: -0.02, Percent Change: -9.38