07:28 AM EDT, 08/22/2025 (MT Newswires) -- Miata Metals ( MMETF ) said overnight Thursday that it raised $5.5 million by closing its upsized private placement offering of 23,913,044 priced at $0.23 apiece. The offering was previously set at $3 million.

Each unit comprises one share and one-half of a transferrable warrant. Each warrant can be exercised at $0.40 per share until Aug. 21, 2027.

The company plans to use the funds to advance exploration on the Sela Creek and Nassau gold projects in Suriname, and for general working capital and corporate purposes.

Miata's share price fell 2.1% on Thursday to $0.23 on the CSE.