12:17 PM EDT, 03/17/2025 (MT Newswires) -- Snowline Gold ( SNWGF ) Monday said it is raising $20.02 million in a bought-deal private placement of flow-through shares.

The company said it is selling underwriters 1.87 million flow-through shares at a price of $10.68 per Charity FT share.

"This financing will serve to top up an already strong treasury for Snowline, allowing for efficient use of exploration capital and providing a long runway to continue our exploration this year and next as we work to unlock a district," said chief executive Scott Berdahl. "At the same time, it will free up existing capital for the rapid, efficient advancement of important work on the Valley deposit, including engineering and environmental studies. We are excited to ramp up our efforts on multiple fronts as we head into the 2025 field season."

Snowline shares were last seen down $0.13 to $8.05 on the TSX Venture Exchange.

Price: 8.09, Change: -0.08, Percent Change: -1.04