12:27 PM EDT, 06/20/2025 (MT Newswires) -- Trident Resources ( TRDTF ) Friday said it closed a private-placement of flow-though shares units that raised $2.25 million.

The company placed 3-million units priced at $0.75 each and made up of a tax-advantaged share and one halfo of a two-year warrant to buy a common share for $1.15.

The company intends to use the proceeds for exploration and upcoming drilling programs at its Saskatchewan Gold Projects.

"Over the next few months, the company will focus on its exploration work which includes drilling at Contact Lake to confirm the high-grade potential resources left behind by the former owner and testing the extension of the trend both along strike and at depth," said chief executive Jonathan Wiesblatt. "The company expects extensive news flow from the assay results in H2 2025."

The company's shares were last seen down $0.01 to $0.64 on the TSX Venture Exchange.

Price: 0.64, Change: -0.01, Percent Change: -1.54