06:57 PM EDT, 06/22/2024 (MT Newswires) -- Surge Copper ( SRGXF ) late Friday said it raised $2.2 million in a private placement of flow-through shares.

The company, which holds exploration properties in British Columbia, said it placed 8.97 million of the tax-advantages shares in the placement, with each priced at $0.245.

Proceeds from the placement will be used for general exploration costs that qualify as ""flow-through critical mineral mining expenditures". the company said.

Surge shares closed unchanged at $0.155 Friday on the TSX Venture Exchange.