New Earth Resources Corp. has successfully closed a non-brokered private placement, raising $1,089,950 through the issuance of 2,422,112 flow-through units at a price of $0.45 per unit. The company plans to use the proceeds to incur eligible Canadian exploration expenses on its mineral exploration properties. In addition, New Earth Resources Corp. is increasing its offering of units to raise up to $825,000. All securities issued are subject to a four-month hold period. The company is focused on acquiring and developing mineral exploration projects, including the Lucky Boy Uranium Property in Arizona and other rare earth projects in Canada.

Read more at GlobeNewswire: New Earth Resources Closes Over Subscribed Flow-Through