12:14 PM EDT, 06/09/2025 (MT Newswires) -- Atico Mining ( ATCMF ) , down nearly 14% on last look, on Monday said it is undertaking a rights offering to raise up to $5.34 million, with a further $3.2 million to be raised under the listed issuer financing exemption (LIFE) .

The company will issue 48.5-million Rights to shareholders on June 16, on the basis of 0.4 of a right per share held. Each whole Right allows the holder to subscribe for one unit at $0.11 each. Each Rights unit will consist of one share and one two-year warrant to buy a share at $0.18.

Atico will also offer e LIFE offering of up to 29-million units at $0.11 each. Each LIFE unit will consist of one share and a two-year warrant to buy a share at $0.18. The LIFE offering will close on June 30.

The company will raise total proceeds from the combined offerings of $8.54 million, which will be used to develop the La Plata project in Ecuador, additional drilling at the El Roble mine in Colombia, and for general corporate purposes.

Atico also reports that it received a proposal from Trifigura to extend an existing US$10-million credit agreement. To date, the company has repaid US$1.3 million, with the remainder due by June 30. Atico said it is in ongoing discussions with multiple other potential lenders as an alternative refinancing option.

The company's shares were last seen down $0.02 to $0.125 on the TSX Venture Exchange.

Price: 0.13, Change: -0.02, Percent Change: -13.79