05:00 PM EDT, 09/15/2025 (MT Newswires) -- P2 Gold ( PGLDF ) said Monday afternoon that it plans to increase the size of its previously disclosed non-brokered private placement to 55 million units priced at $0.20 each, for total proceeds of up to $11 million. The financing previously involved 30 million units for gross proceeds of up to $6 million.

A statement noted each unit will consist of one common share and one common share purchase warrant. The warrant allows the holder to buy one additional share for $0.30 for up to two years after issuance. However, warrants will not be exercisable for the first 60 days, the company said, adding that it has removed the acceleration provision from the warrant terms.

The offering is expected to close once documentation is complete and required regulatory approvals, including approval from the TSX Venture Exchange, are received. Funds raised will be used for exploration and development work at the Gabbs Project in Nevada, and general corporate purposes, P2 Gold ( PGLDF ) said.

The company added that the securities being offered are not registered in the US and can't be sold there unless an exemption applies.

Shares of P2 Gold ( PGLDF ) were seen last up $0.01 or 4.4% to $0.24 on the TSXV.