01:06 PM EDT, 04/08/2024 (MT Newswires) -- Kootenay Silver ( KOOYF ) was last seen down 11% after the company on Monday said it is upsizing its previously announced "best efforts" public offering of share units to up to $9 million, up from an earlier target of C$5 million.

The company is now offering up to 8.04-million units in the financing, with each priced at C$1.12 and made up of a share and one half of a two-year warrant to buy a second share for C$1.68.

According to a company statement, the net proceeds will be used for the advancement of the company's Columba Silver Project in Mexico as well as for general working capital and corporate purposes.

Kootenay Silver ( KOOYF ) shares were last seen down C$0.14 to C$1.14 on the Toronto Stock Exchange.

Price: 1.13, Change: -0.15, Percent Change: -11.72