08:42 AM EDT, 05/28/2024 (MT Newswires) -- Arras Minerals Corp. ( ARRKF ) said Tuesday that it has increased its non-brokered private placement financing to nearly $4.5 million from nearly $2 million.

Following the upsizing, the offering will comprise up to 17.3 million units at $0.26 each.

Each unit will comprise one common share and half of a non-transferable common share purchase warrant. Each whole warrant will allow the holder to buy one additional common share at $0.40 for three years from the closing of the offering.

The company was previously offering nearly 7.7 million units under the offering, which is expected to close by June 4.