07:47 AM EST, 12/24/2024 (MT Newswires) -- Salazar Resources ( SRLZF ) on Tuesday said it arranged a non-brokered private placement financing of up to 25 million shares at $0.07 per share to raise up to $1.75 million that will be used for working capital and tenure payments.

The company also added that certain insiders will participate in the financing and that all securities to be issued in the private placement are subject to a four-month hold period.

Shares of the company closed flat at $0.07 on Monday on the TSX Venture Exchange.