Timmins, Ont.-based Moneta Porcupine Mines (TSE) has grossed $570,000 through two private placements.
In one placement, privately owned Mattalex subscribed to 1 million shares at 24 cents each, to raise $240,000. In the other, Goldcorp (TSE) bought 1 million shares at 33 cents each, thereby raising $330,000.
Most of the proceeds will be used to explore properties near Timmins and acquire projects in the U.S.
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