11:10 AM EDT, 04/01/2025 (MT Newswires) -- Rupert Resources ( RUPRF ) on Tuesday was last seen up 6% after the company said it closed a previously announced private placement of 6.3-million shares issued at a price of $4.50 per share for proceeds of $28.5 million.

Agnico Eagle Mines ( AEM ) exercised its participation right to subscribe for 2.6-million shares, resulting in Agnico Eagle retaining about a 14% interest in Rupert Resources ( RUPRF ) on a non-diluted basis upon closing of the private placement.

The company added that pursuant to its rights under the investor rights agreement between Rupert Resources ( RUPRF ) and Agnico Eagle dated Feb. 11, 2020, Agnico Eagle has designated Carol Plummer as its nominee to be appointed, or nominated for election, to the board. Rupert Resources ( RUPRF ) said it will nominate Carol Plummer for election as a director at the upcoming annual general meeting of the company's shareholders.

Proceeds of the private placement will be used for on-going exploration expenditures, technical and environmental studies on the company's properties in Finland and for general corporate purposes.

Shares of the company were last seen up $0.24 at $4.35 on the Toronto Stock Exchange.

Price: 4.36, Change: +0.25, Percent Change: +6.08