10:43 AM EDT, 06/25/2025 (MT Newswires) -- Valkea Resources ( OZBKF ) was up near 12% at last look on Wednesday after closing its non-brokered private placement of units of the company for gross proceeds of C$4.1 million.

A total of 16.4 million units were issued at a price of C$0.25 each. Each unit is made up of one share and one-half of one share purchase warrant of the company. Each warrant will allow the holder to purchase one share at an exercise price of C$0.35 until December 24, 2026. The warrants are subject to an acceleration clause.

"This successful financing enables us to push ahead at the Paana Project and follow-up on the strong results from our maiden program earlier this year," said Valkea Resources' ( OZBKF ) Chief Executive Officer, Chris Donaldson.

The company said that the net proceeds from the financing will be used for exploration and working capital purposes.

A company statement noted that as a result of his participation in the financing, "leading strategic junior mining investor," Michael Gentile, now holds approximately 9.9% of the issued and outstanding common shares in the capital of the company, on a partially-diluted basis, immediately following the closing of the financing. The company added that he has joined as an advisor.

The company stated that Gentile is "widely recognized as one of the leading investors" in the junior mining sector, with "top five ownership positions" in over 20 publicly traded exploration and mining companies. He is also currently a director of Group Eleven Resources (TSXV: ZNG), Northern Superior Resources (TSXV: SUP), OnGold (TSXV: ONAU), Radisson Mining Resources (TSXV: RDS), Roscan Gold (TSXV: ROS), and Solstice Gold (TSXV: SGC), and a strategic advisor to Northisle Copper and Gold (TSXV: NCX).

Additionally, Primevest Capital, a specialty investment manager, and "another high-profile mining investor" have also made "significant strategic investments" in the financing, and now each hold approximately 9.9% of the issued and outstanding shares, on a partially-diluted basis, immediately following the closing of the financing.

"Bringing Michael Gentile on board as an advisor and welcoming him as a cornerstone shareholder along with significant investments from other shareholders, including Primevest, is a real validation for our projects and strengthens our shareholder base," added the CEO.

The company also announced that it has granted an aggregate of around 1.7 million stock options of the company to certain directors, officers, employees, and consultants of the company. Each option is exercisable to acquire one share at a price of $0.30 per share for a period of 5 years following the date of grant, in accordance with the terms of the company's stock option plan.

The company's shares were last seen up $0.035 to $0.33 on the TSX Venture Exchange.

Price: 0.33, Change: +0.04, Percent Change: +11.86