09:13 AM EDT, 09/30/2025 (MT Newswires) -- Astra Exploration ( ATEPF ) , which lost 8% yesterday, overnight Monday announced a bought deal private placement for aggregate gross proceeds of near C$5 million.

The company said it entered into an agreement with a syndicate investment dealers that has agreed to purchase 8.065 million shares at C$0.62 each. It also granted underwriters an option to purchase an additional 3.226 million shares at the issue price for additional gross proceeds of up to about C$2 million.

Astra plans to use the net proceeds from the offering for exploration expenditures on the La Manchuria project and for general working capital purposes. The offering is expected to close on or about Oct. 8, 2025, subject to compliance with applicable securities laws.

"Notwithstanding the foregoing, the closing of the Offering must occur no later than the 45th day following the date of this news release," said the company.

The completion of the offering is subject to customary conditions.