01:33 PM EDT, 07/09/2024 (MT Newswires) -- Viscount Mining ( VLMGF ) said Tuesday that it plans to raise $5 million via a non-brokered private placement on a best-efforts basis.

The company plans to place up to 20-million units in the financing, with each priced at $0.25 and made up of a share and a two-year warrant to buy a second share for $0.30.

The company plans to use the net proceeds for the exploration and development of the company's mineral property interests and working capital.

The company's shares were last seen up $0.01 to $0.26 on the TSX Venture Exchange.

Price: 0.26, Change: +0.01, Percent Change: +4.00