04:38 PM EDT, 09/24/2025 (MT Newswires) -- Blue Moon Metals ( BMOOF ) on Wednesday said it is raising $60.06 million in a bought-deal share offering.

The company said it is selling an underwriting syndicate 18.2-million shares priced at $3.30 per share and granted them a 15% over-allotment option, which if fully exercised would raise proceeds to $69.07 million.

Blue Moon says net proceeds from the offering will be directed toward advancing the Blue Moon project in California, including determining the optimal processing route for mineralized material, further exploration at its Nussir and NSG projects, as well as working capital and general corporate purposes.

The company plans to file a prospectus supplement to its base shelf prospectus, which will be available across Canada, excluding Quebec.

Blue Moon Metals ( BMOOF ) shares closed up $0.16, or 4.6%, to $3.65 on the TSX Venture Exchange.