The Canadian miner will fund exploration at three properties using proceeds from flow-through and non-flow-through shares.
Sun Summit Minerals Corp (SMN:CA) secured up to $4 million through a non-brokered private placement. The offering includes charity flow-through shares priced at $0.145 each and non-flow-through shares at $0.10 each.
Proceeds will support exploration at the JD, Theory, and Buck properties in Canada, with additional funds earmarked for future projects. Charity flow-through shares will direct capital to eligible Canadian exploration expenses under tax regulations.
No immediate market reaction was reported following the announcement.