11:22 AM EDT, 03/25/2025 (MT Newswires) -- Sanu Gold ( SNGCF ) was last seen up 10% after the company on Tuesday upsized a non-brokered private-placement share financing to $12 million, up from its prior $10 million target.

The company will now place up to 42.86-million shares priced at $0.28 apiece in the offer.

The company also said the oversubscribed book has closed. Proceeds will be allocated to further exploration efforts and may support the acquisition of potential new exploration permits and for general working capital.

Each of Montage Gold (MAU.V), the Lundin Family and AngloGold Ashanti will be entitled to buy common shares on equivalent terms to maintain their pro rata equity interests in the company, pursuant to the investor rights agreements. Certain directors and officers of the company may also buy securities under the placement.

Shares of the company were last seen up $0.03 at $0.33 on the Canadian Securities Exchange.

Price: 0.34, Change: +0.03, Percent Change: +8.06