11:35 AM EDT, 05/10/2024 (MT Newswires) -- Northern Superior Resources ( NSUPF ) said Friday it upsized its bought-deal private placement of flow-through shares and common shares to about $8 million from its prior $7-million target.

The company will now issue about 5.1 million common shares that qualify as flow-through shares"at $0.99 apiece for gross proceeds of about $5 million; and about 5.5 million common shares at $0.55 for about $3 million.

The company plans to use the net proceeds from the issue of the HD shares for working capital and general corporate purposes.

The offering is expected to close by May 28.

The company's shares were last see down C$0.06 to C$0.59 on the TSX Venture Exchange.

Price: 0.59, Change: -0.06, Percent Change: -9.23