11:52 AM EDT, 08/26/2024 (MT Newswires) -- P2 Gold ( PGLDF ) on Monday said it will raise up to $500,000 through a non-brokered private placement of up to 10-million share units priced at $0.05 per unit.

Each unit will consist of one P2 Gold ( PGLDF ) share and and a two-year warrant to buy a second share for $0.10.

The offering is conditional upon receipt of all necessary regulatory approvals, including from the TSXV.

Proceeds from the offering will be used to fund exploration expenditures and for general corporate purposes.

P2 Gold's ( PGLDF ) share price at last look slumped 15.4% to $0.06 in early Monday trading.

Price: 0.06, Change: -0.01, Percent Change: -15.38