09:46 AM EDT, 08/13/2025 (MT Newswires) -- GR Silver Mining ( GRSLF ) on Wednesday said it has raised $13.8 million through its bought deal offering, which also includes the full exercise of the over-allotment option.

The company issued 69 million units at $0.20 each, including 9 million units in the over-allotment option.

Each unit is comprised of one share and half a three-year warrant to buy a share at $0.28.

Proceeds will be used to advance the Plomosas Silver Project in Mexico.

"This capital gives us the ability to unlock the value of our Plomosas Project, by advancing the step-out resource expansion drilling program at the San Marcial Area focused on high-grade silver mineralization, and continuing the Bulk Sampling Test Mining activities at the historic Plomosas Underground Mine," said Chief Executive Marcio Fonseca.