06:52 AM EDT, 08/23/2024 (MT Newswires) -- O3 Mining ( OIIIF ) on Friday said it filed a prospectus supplement to its short form base shelf prospectus for the sale of $18.2 million of units.

The value can rise to as much as $20.9 million of units if the over-allotment option is exercised in full.

Separately, the company said it issued $247,735 in common shares under an at-the-market offering of up to $10 million in common shares launched in June 2023.

A strategic investor will exercise its rights by subscribing for a number of units that would result in it holding 5.1% of the company's common shares after giving effect to the offering at the issue price of $1.10 per unit.

The offering and concurrent private placement are subject to the approval of the TSXV.