11:14 AM EDT, 03/17/2026 (MT Newswires) -- BP Silver ( BPSCF ) on Tuesday said it will raise up to $8 million in a non-brokered private placement of share units.

The company said it will offer 8-million units at a price of $1.00 each in the financing, with each made up of a share and one half of a two-year warrant to buy a share for $1.30.

BP Silver ( BPSCF ) plans to use proceeds for exploration activities at its Cosuno Silver Project in Bolivia, including geophysical surveys and a Phase II drill program, and for general working capital purposes.

"We are pleased to advance exploration at our flagship Cosuno project through this financing," said chief executive Tim Shearcroft. "The planned geophysical surveys and Phase II drill program will play a critical role in defining the extent of the mineralized system and unlocking the broader exploration potential of Cosuno."

The company's shares were last seen down $0.03 to $1.05 on the TSX Venture Exchange.

Price: 1.05, Change: -0.03, Percent Change: -2.78