TomaGold Corporation (TSXV: LOT; OTCPK: TOGOF) announced the closing of the second and final tranche of its non-brokered private placement, raising total proceeds of $178,650.

The Canadian mining company issued 1,375,000 hard cash units at $0.06 per unit and 1,282,000 flow-through units at $0.075 per unit. Each hard cash unit includes one common share and half of one share purchase warrant, while each flow-through unit consists of one flow-through share and half of one warrant. The warrants allow holders to purchase additional common shares at $0.10 for 24 months from issuance.

TomaGold paid aggregate cash finder's fees of $4,194 and issued 55,920 compensation warrants for the second tranche. The company also disclosed it paid $27,893.35 in finder's fees for the first tranche completed earlier.

The company plans to use proceeds from flow-through units for exploration expenses qualifying as Canadian exploration expenses and flow-through critical mineral mining expenditures under Canada's Income Tax Act. Proceeds from hard cash units will support general corporate and working capital purposes.

All securities from the private placement are subject to a hold period of four months and one day from issuance. The transaction requires final approval from the TSX Venture Exchange.

TomaGold focuses on precious and base metal exploration in Quebec and Ontario, with core assets in the Chibougamau Mining Camp and a joint venture interest in the Baird gold property near Ontario's Red Lake Mining Camp.