09:10 AM EDT, 07/09/2025 (MT Newswires) -- Big Ridge Gold ( ALVLF ) on Wednesday said it increased the size of its previously announced "best efforts" private placement to aggregate gross proceeds of up to $5.25 million from $5 million.

The upsized offering includes the sale of 42 million units at $0.125 each. Each unit will be made up of one common share and one half of a common share purchase warrant. Each warrant is exercisable into one share of the company at a price of $0.20 apiece for a period of 24 months from the closing date of the offering.

The company said it plans to use the net proceeds of the offering to fund the purchase of the remaining 20% of the Hope Brook Gold Project it does not currently own, and for general working capital purposes.

The transaction is subject to receipt of regulatory approvals.