11:51 AM EST, 01/31/2025 (MT Newswires) -- AbraSilver Resource ( ABBRF ) on Friday said its is upsizing a bought-deal share financing to $26.1 million, from $21.8 million.

The company will now issue 10.23-million shares priced at $2.55 each, while underwriters have been granted a 15% over-allotment option.

Kinross Gold ( KGCRF ) and Proener SAU may also choose to increase their subscriptions in the previously announced concurrent private placement offering, to raise up to $26.6 million.

The offering is expected to close about Feb. 7. Proceeds will be used to advance the Diablillos project in the Salta province of Argentina.

AbraSilver shares were last seen up $0.10 to $2.85 on the TSX Venture Exchange.

Price: 2.93, Change: +0.18, Percent Change: +6.55