01:56 PM EDT, 06/21/2024 (MT Newswires) -- Thesis Gold ( THSGF ) said Friday it raised $21 million in a private placement of common and flow-through shares.

Under the offering, the company issued 8.85-million premium flow-through common shares priced at $1.13; 6.7-million flow-through common shares at $0.90; and roughly 6.56-million common shares at $0.75 each.

The company plans to use the gross proceeds from the sale of premium FT shares and FT shares to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" related to the company's projects in Canada.

The company plans to use the net proceeds to fund exploration and development expenditures at the company's Lawyers-Ranch Project in British Columbia and for general corporate and working capital purposes.

Thesis shares were last seen down $0.01 to $0.63 on the TSX Venture Exchange.

Price: 0.63, Change: -0.01, Percent Change: -1.56