04:50 PM EDT, 09/26/2024 (MT Newswires) -- Fokus Mining ( FKMCF ) said Thursday it is upsizing its non-brokered private placement of share units from a minimum of $1.50 million to $1.88 million due to strong market demand.

The upsized offering will include about $875,000 from the issuance of units priced at $0.05 each and $1 million from flow-through units priced at $0.08 each, the company said.

Each unit is made up share and one warrant, while each flow-through unit includes one flow-through share and one warrant. Each warrant allows the purchase of a share for $0.08 for three years.

Other terms, including finder's fees and use of proceeds, remain as previously announced on Sept. 12, the company added.

Fokus shares closed unchanged at $0.06 on the TSX Venture Exchange.