Rupert Resources (TSXV: RUP) has closed a pair of concurrent equity financings, raising a total of C$48.7 million (approximately $40.2 million). The company intends to use the net proceeds for ongoing exploration in Finland and for general corporate purposes.

Rupert issued 5.7 million common shares at a price of C$5.30 each in a public offering to raise C$30 million. It also issued 3.5 million shares at the same price for gross proceeds of C$18.7 million in a private placement with existing shareholders, including Agnico Eagle Mines (TSX: AEM; NYSE: AEM). The total amounts of both offerings included over-allotments.