Rocky Shore Gold Ltd. (CSE: RSG) closed the first tranche of a non-brokered private placement, raising gross proceeds of C$3,227,450.10 through the issuance of 21,516,334 flow-through shares at C$0.15 per share, according to a press release.

The proceeds will be used for exploration and advancement of the company's projects in central Newfoundland.

In connection with the closing, the company paid cash finder's fees and issued 1,290,980 finder's warrants to eligible finders. Each warrant is exercisable to acquire one common share at C$0.15 per share until March 25, 2028.

All securities issued under the first tranche are subject to a statutory hold period expiring January 26, 2027.