08:59 AM EDT, 06/12/2024 (MT Newswires) -- Gladiator Metals ( GDTRF ) said Wednesday that it increased the size of its previously announced private placement to $12 million from $10 million.

The company said it now intends to issue 17 million charity flow-through shares at $0.61 apiece and nearly 4.1 million non-flow-through shares at $0.40 each.

Gladiator plans to use the proceeds to advance its exploration program at the Whitehorse copper project in Canada's Yukon. The offering is expected to close June 21.

The company's share price fell 1.1% yesterday to $0.46.