05:04 PM EDT, 06/16/2025 (MT Newswires) -- Rua Gold ( NZAUF ) Monday said is seeking $12 million in a best-efforts offering of shares and a concurrent private placement.

The company said the offering and private placement will place 17.14-million shares priced at $0.70 each, the company has not yet determined how it will split the total shares available between the two financings.

The company intends to use proceeds for "continuing the exploration program on its New Zealand properties," and for general working capital and general corporate purposes.

Rua Gold ( NZAUF ) shares closed up $0.03 to $0.74 on the TSX Venture Exchange.