01:56 PM EDT, 04/08/2024 (MT Newswires) -- Renegade Gold ( TGLDF ) said Monday it raised C$3.4 million in a private placement of 17-million units at C$0.20 apiece.

Each unit consists of a share and one transferable three-year warrant to buy a second share for C$0.25.

The company plans to use the net proceeds to pay off debt, for exploration work on the company's exploration properties, and for general working capital.

The company's shares were last seen down C$0.01 to C$0.44 on the TSX Venture Exchange.

Price: 0.44, Change: -0.01, Percent Change: -2.22