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RZOLV Technologies Up 6.3% as it Raises C$1.9 Million in a Private Placement of Share Units

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RZOLV Technologies (RZL.V) shares were up 6.3% on Thursday after the company said it closed a non-brokered private placement financing of share units that raised C$1.9 million.

The company said it sold 5.4-million units priced at C$0.35 apiece and made up of a share and one-half of a two-year warrant to buy a share for C$0.55.

Proceeds will be used for research and development, pilot-scale and commercial-readiness activities, technical validation work, equipment and process optimization, intellectual property protection, business development, strategic partnership initiatives, investor relations, working capital, and general corporate needs, it said.

The company's shares were last seen up C$0.02 to C$0.34 on the TSX Venture Exchange.

Price: $0.34, Change: $+0.02, Percent Change: +6.25%

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