04:07 PM EDT, 10/28/2019 (MT Newswires) -- Balmoral Resources (BAR.TO), up 17% on Monday, said after markets closed it raised C$1.9 million in the initial tranche of a private placement of Quebec and national flow through shares.

The company said it sold 7.17 million Quebec flow-through share priced at C$0.23, raising C$1.65 million. It also sold 1.32 million national flow-through shares priced at C$0.19 for C$0.25 million.

Funds are earmarked for exploration of the company's Quebec mining properties.

Balmoral shares ended up C$0.03 to C$0.205 on the Toronto Stock Exchange.

Price: 0.2050, Change: +0.0300, Percent Change: +17.14