** Shares of Rimfire Pacific Mining RIM.AX fall 10% to A$0.027, hitting their lowest level since mid-February

** Critical minerals explorer receives firm commitments to raise A$2 mln ($1.26 mln) via a placement

** Placement issue price at A$0.025 per share, a 16.7% discount to stock's last close

** Says funds will be used for drilling programs of rare earth mineral scandium across co's projects

** Stock down 22.9% YTD, including current session's moves

($1 = 1.5886 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))