10:58 AM EDT, 06/28/2024 (MT Newswires) -- Spanish Mountain Gold ( SPAZF ) overnight Thursday closed the second and final tranche of its private placement of flow-through units at $0.24 each, and non flow-through units (NFT units) at $0.21 each.

A statement noted a second tranche of the private placement consisted of 50,000 FT Units and 819,237 NFT Units for total aggregate gross proceeds of $184,040. The total private placement consisted of 7,858,333 FT Units and 7,733,522 NFT Units for total aggregate gross proceeds of $3,510,040.

Proceeds from the sale of the FT units will be used for exploration and development work at the Spanish Mountain Gold ( SPAZF ) project in British Columbia. NFT units proceeds will be used for general working capital purposes.