08:59 AM EDT, 06/23/2025 (MT Newswires) -- Minaurum Gold ( MMRGF ) said Monday it is raising $5 million in a private placement to advance the Alamos silver project in Mexico.

The company said it will use the proceeds for exploration expenditures, property maintenance and permitting costs, as well as for general working capital purposes.

The offering comprises 20 million units priced at $0.25 apiece. Each unit consists of one share and one-half of a warrant. Each warrant can be exercised at $0.37 per share for 24 months.

The offering is expected to close on or about July 3.

Minaurum's share price closed 3.8% higher on Friday to $0.27 on the TSXV.