11:00 AM EDT, 10/22/2025 (MT Newswires) -- AbraSilver Resource ( ABBRF ) Wednesday said it closed its previously announced bought deal private placement raising $46.2 million, which included the partial exercise of the underwriters' option and participation from a corporation beneficially owned by Canadian businessman Eric Sprott.

The offering consisted of the issuance of 6.5-million common shares at $7.10 apiece. The company also issued 270,860 common shares to Kinross Gold Corporation ( KGCRF ) concurrently with the offering, upon the exercise of a participation right held by Kinross for $1.9 million.

Proceeds will be used to fund early development expenditures, including on-site infrastructure, securing critical long lead-time items, advanced engineering and exploration programs in support of the advancement of its 100%-owned Diablillos silver-gold project in the Salta province of Argentina, and for general corporate needs.

Shares of the company were last seen down 1.9% at $5.65 on the Toronto Stock Exchange.

Price: 5.67, Change: -0.09, Percent Change: -1.56