06:27 AM EDT, 10/21/2024 (MT Newswires) -- Apollo Silver ( APGOF ) over the weekend said it has further increased the size of its non-brokered private placement to up to 67.5 million common shares at $0.20 per share to raise up to $13.5 million.

The company cited significant interest in its decision to boost the private placement size. The closing of the offering is subject to TSXV approval.

Net proceeds from the offering will be used to continue advancing the Calico silver project in San Bernardino, California; to invest in community relations initiatives at the newly optioned Cinco de Mayo silver project in Chihuahua, Mexico; for ongoing property maintenance costs at both projects; and for general corporate purposes.

The company's share price jumped 24% to a 52-week high of $0.32 on Friday.