03:02 PM EST, 12/30/2024 (MT Newswires) -- (Updates with stock move in the headline and first paragraph.)

Snow Lake Resources ( LITM ) shares were down about 40% in recent Monday trading after the company priced its best-efforts stock offering of 18.75 million shares at $0.80 per share, a 50% discount to their closing price Friday.

Gross proceeds from the offering, expected to close on Tuesday, are anticipated to be about $15 million, the uranium exploration company said.

The company said it plans to use the net proceeds for general corporate purposes.

Price: 0.96, Change: -0.64, Percent Change: -40.06