06:45 AM EDT, 10/03/2024 (MT Newswires) -- Mirasol Resources ( MRZLF ) late on Wednesday said that due to strong demand it increased its non-brokered private placement to 11.1 million units at a price of $0.45 per unit to raise up to $5 million, up from an original plan to raise $3 million.

Proceeds from the private placement will be used primarily to advance the exploration program at the Sobek property, including drill testing priority targets.

The private placement is expected to close on Oct. 25. Completion is subject to acceptance by the TSXV.

Mirasol's share price rose 3.5% yesterday to $0.45.