10:52 AM EDT, 08/08/2025 (MT Newswires) -- Miata Metals ( MMETF ) , down 8% to near 52 week lows at last look, on Friday said it has upsized its non-brokered private placement offering to now raise $5 million, from $3 million.

A statement noted the company will offer near 21.74 million units at $0.23 each, up from a previous 13 million units at the same price.

Each Unit will consist of one common share in the capital of the xompany and one-half of one transferrable common share purchase warrant. Each Warrant will entitle the holder to acquire an additional common share at a price of $0.40 for a period of 24 months following closing of the offer.

Proceeds will be used for exploration activities on its Sela Creek and Nassau Gold projects in Suriname.

The offering is expected to close about Aug. 21.

Miata shares are down $0.02, to $0.225, on the Canadian Securities Exchage.

Price: 0.23, Change: -0.02, Percent Change: -8.16