02:39 PM EDT, 10/30/2025 (MT Newswires) -- NexMetals Mining ( NEXM ) was at last look down 1% after it earlier on Thursday increased the size of its previously announced 'best efforts' public offer of units to up to $80 million from up to $65 million, due to "strong demand from institutional investors." A statement noted this is the second time the offering has been upsized.

The company said under the amended terms, the offering will consist of near 14-million units, and there will no longer be an over-allotment option. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share for a period expiring 24 months following the date of issuance at a price of C$8.00.

Proceeds from the offering are expected to be used to fund the prepayment of the first contingent milestone payment under the Asset Purchase Agreement for the Selebi and Selkirk mines, to advance exploration and development activities at its mineral assets in Botswana, and for working capital and general corporate needs. Closing of the offering is expected on or about Nov. 13.

The agents will receive a cash fee equal to 6% of proceeds of the offering, subject to a reduced cash fee equal to 2.0% payable in respect of sales to certain individuals on a "president's list" for proceeds of up to $7.0 million, increased from $5.0 million.

Shares of the company were last seen down $0.06 at $5.56 on the TSX Venture Exchange.

Price: 5.56, Change: -0.06, Percent Change: -1.07