08:28 AM EDT, 07/19/2024 (MT Newswires) -- Northfield Capital (NFD-A.V) said Friday that it raised about $7.4 million in a private placement of units.

The offering comprised 368,500 units priced at $20.00 apiece. Each unit consists of one class A restricted voting share and one warrant. Each warrant can be exercised at $25.00 per share until July 18, 2029.

The company plans to use the proceeds to fund operational expenditures, retire existing debts and for general corporate purposes.

Northfield Capital is an investment and merchant banking company focused on investing in the resource and transportation sectors.