11:52 AM EDT, 07/15/2025 (MT Newswires) -- Pasinex Resources (PSE.CN) on Tuesday said it will raise up to $2.15 million in a non-brokered private placement of shares.

The company said it will place an undisclosed number of shares priced at $0.075 in the financing.

Proceeds will primarily be used to complete the purchase of the Sarikaya mine property in Kayseri Province, Turkiye. The company said the offering will be made available to accredited investors and qualified purchasers in jurisdictions permitted by applicable securities laws, subject to a minimum subscription amount of $15,000.

"This private placement provides Pasinex with the capital needed to complete the Sarikaya purchase, initiate mining, and start exploration on this highly prospective license," said Executive Chairman Dr. Larry Seeley.

Shares of the company were last seen down $0.005 at $0.055 on the Canadian Securities Exchange.