New Earth Resources completes $825,000 private placement

New Earth Resources Corp. (CSE: EATH) completed a non-brokered private placement raising gross proceeds of $825,000, according to a company statement.

The mineral exploration company issued 2.2 million units at $0.375 per unit. Each unit consists of one Class A common share and one share purchase warrant. The warrants allow holders to purchase shares at $0.50 each until January 6, 2029.

New Earth paid $6,150 in finder's fees and issued 14,400 finder's warrants exercisable at $0.375 per share until January 6, 2029. Securities from the offering are subject to a four-month hold period ending May 7, 2026, under Canadian securities laws.

The company plans to use proceeds for general working capital purposes.

New Earth Resources operates mineral exploration projects including the Lucky Boy Uranium Property in Arizona, which covers 273 acres and produced uranium in the 1950s and 1970s. The company also holds uranium claims in Saskatchewan covering 365 hectares and has options on rare earth element projects in Quebec and Labrador totaling approximately 2,676 hectares.

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