07:42 AM EDT, 08/11/2025 (MT Newswires) -- Miata Metals ( MMETF ) over the weekend increased the size of its previously announced non-brokered private placement offering to 23.9 million units at $0.23 apiece for up to $5.5 million, an increase from the original $3 million.

The company said each unit will consist of one common share and one-half of one transferrable two-year warrant to buy a share for $0.40. The warrants will be restricted from exercise until the 61st day following the closing of the offering.

As previously disclosed, Miata Metals ( MMETF ) intends to use proceeds for exploration activities on its Sela Creek and Nassau Gold projects in Suriname, and for general working capital and corporate purposes.

The offering is expected to close on or about Aug. 21.