Primary Hydrogen (HDRO.V) shares were last seen up by a third after it said late Thursday it is raising up to $2.4 million from a non-brokered private placement of share units.
The company is placing up to 4-million units, priced of $0.60 each and made up of a share and a two-year warrant to buy a share for $0.80..
The company plans to use the proceeds for general working capital and general administrative purposes. It may also use a portion of the net proceeds to acquire additional exploration properties if suitable opportunities arise, the company added.
The company's shares were last seen up $0.25 to $1.00 on the TSX Venture Exchange.
Price: $1.00, Change: $+0.25, Percent Change: +33.33%