01:04 PM EDT, 05/13/2024 (MT Newswires) -- IMPACT Silver ( ISVLF ) said Monday it upsized its non-brokered private placement of share units to raise to $8.2 million from its prior $6.2-million target.

The revised financing has been increased to $5 million from the sale of 18.52-million units at C$0.27 per unit, up from the original proposed $3 million placement of 11.11 million units.

Each unit is made up of a share and a two-year warrant to buy a second share for $0.34.

An accompanying LIFE financing is unchanged, with the company asking for $0.28 per LIFE unit, made up of a share share and one-half of a warrant for gross proceeds up to $3.2 million.

The offering is scheduled to close by the week of May 20.

The company's shares were last seen down C$0.005 to C$0.26 on the TSX Venture Exchange.

Price: 0.26, Change: -0.01, Percent Change: -1.89