04:51 PM EDT, 06/06/2024 (MT Newswires) -- Panther Minerals ( GLIOF ) on Thursday said it closed the second and final tranche of a private placement of shares, raising $0.75 million.

The company said it placed a total 3.74-million shares priced at $0.20 in the tranche.

Overall, the company raised $2 million from the placement of 10-million shares in the financing.

"The proceeds from the private placement are going to be used to fund exploration and for general working capital purposes," it said in a release.

Panther shares closed up $0.005 to $0.46 on the Canadian Securities Exchange.