12:35 PM EDT, 09/15/2025 (MT Newswires) -- Metalsource Mining ( SFRIF ) on Monday said it will raise up to $4 million in a non-brokered private placement shares units, including a $1 million commitment from mining financier Eric Sprott.

The company said it will look to place 20-million units in the financing, with each priced at $0.20 and made up of a share and a one half of a three-year warrant to buy a share for $0.30.

Eric Sprott is set to lead the offering and is subscribing for 5-million units.

Proceeds will be used to progress exploration at the Silver Hill and Byrd-Pilot projects in North Carolina, continue work on the Aruba manganese project in Botswana, and for general working capital.

Metalsource Mining ( SFRIF ) shares were last seen up $0.01 to $0.24 on the Canadian Securities Exchange.

Price: 0.24, Change: +0.01, Percent Change: +4.35