04:47 PM EDT, 05/30/2024 (MT Newswires) -- Rugby Resources ( RBMNF ) on Thursday said it is boosting the size of a private placement of share units to raise $0.92-million from its original $0.5-million target, due to subscriber demand.

The company said it now plans to place 18.44-million units priced at $0.05 and made up a share and a two-year warrant to buy a second share for $0.10.

Proceeds will be used for exploration and general expenses.

Rugby shares closed unchanged at $0.045 on the TSX Venture Exchange.