04:36 PM EDT, 09/19/2025 (MT Newswires) -- 1911 Gold ( AUMBF ) after trade Friday said it agreed to upsize a best-efforts private placement of share offering to $17 million, up from its prior $13-million target.

This upsized offering comprises a Listed Issuer Financing Exemption (LIFE) offering and a private placement (PP) offering, the company added.

The LIFE part aims to raise about $10.24 million, and the PP portion could raise about $6.72 million. In addition, the company has given agents a 15% over-allotment option on flow-through shares priced at C$0.64 apiece, 1911 Gold ( AUMBF ) said.

Proceeds from non-flow-through shares will go toward general corporate and working capital needs, the company said, adding that the upsized offering is expected to close around Oct. 15, pending regulatory and stock exchange approvals.

1911 Gold ( AUMBF ) shares closed up $0.03 to $0.57 on the TSX Venture Exchange.