12:15 PM EST, 11/18/2024 (MT Newswires) -- Rugby Resources ( RBMNF ) on Monday said it will seek up to $3 million in a private placement offering of share units.

The company said it will place up to 60-million units in the financing, with each priced at $0.05 and made up of a share and one half of an 18-month warrant to buy a second share for C$0.12.

Proceeds of the Offering will be used for exploration and general expenses.

The company's shares were last seen up $0.005 to $0.045 on the TSX Venture Exchange.