05:33 PM EDT, 09/17/2024 (MT Newswires) -- P2 Gold ( PGLDF ) on Tuesday it is upsizing a non-brokered private placement to 20-million units to raise $1 million, up from its prior $0.9-million target as it closed the final tranche of the offer.

The company said it is now looking to place 20-million units in the financing, with each priced at $0.05 and made up of share and a two-year warrant to buy a second share for C$0.10.

P2 said in closed the final tranche of the offering, raising $252,500 as it placed 5.05-million units.

Proceeds of the offering will be used to fund exploration and development expenditures and for general corporate purposes.

The company's shares closed unchanged at $0.065 on the TSX Venture Exchange.