Rubicon Minerals Corp. said Feb. 26 that it raised around C$10.9 million from a previously announced bought-deal private placement, including the partial exercise of the overallotment option.

The company issued 7,122,034 flow-through shares at C$1.53 apiece.

The financing was conducted by a syndicate of underwriters led by BMO Capital Markets and included TD Securities Inc., Laurentian Bank Securities Inc. and Mackie Research Capital Corp.

Rubicon intends to use the proceeds for Canadian exploration expenses.