04:16 PM EDT, 04/18/2024 (MT Newswires) -- PPX Mining ( SNNGF ) on Thursday said it closed a private placement of share units that raised C$1.35 million.

The company said it placed 30-million units in the financing, with each priced at C$0.045 and made up of a share and a two-year warrant to buy a second share for C$0.07.

"The company intends to use the proceeds from the offering to finance further exploration in surrounding areas of hole 7 of the company's Igor project and working capital," it said.

PPX shares last traded Wednesday, closing at C$0.07 on the TSX Venture Exchange.