Cobalt and high tech metals focused King's Bay Resources Corp (CVE:KBG) told investors it had raised a total of $402,750 from closing two tranches of a financing.
The funds will be deployed on exploration expenditures and working capital, the company said.
It comes as the group said it had completed the second and final tranche of a non-brokered, non-flow-through private placing of 615,000 units at 10 cents each for $61,500.
It has also now completed a non-brokered, flow-through private placing of 200,000 flow-through shares at 12.5 cents per flow-through share for gross proceeds of $25,000.
The non-flow-through placing consisted of issuing one company share and one non-transferable share purchase warrant.
The warrant entitles the holder to buy a company share at 15 cents until August 30, 2019.