01:16 PM EDT, 06/13/2024 (MT Newswires) -- Miata Metals (MMET.CN) said Thursday it upsized a non-brokered private placement share units to $1.8 million, up from its original $1.5 million target.

Miata will now issue up to 5.8-million units priced at $0.30 and made up of a share and one half of a two-year warrant to buy a second share for $0.50.

The company plans to use the proceeds to fund the closing costs of Miata's proposed acquisition of 79North, the initial exploration program in Suriname, exploration on the Cabin Lake Property, and general working capital and corporate purposes.

The company's shares were last seen down $0.01 to $0.47 on the Canadian Securities Exchange

Price: 0.47, Change: -0.01, Percent Change: -2.08