11:15 AM EDT, 07/16/2025 (MT Newswires) -- Sierra Madre Gold and Silver ( SMDRF ) was last seen down 10% after the company on Wednesday said is upsizing a private placement of share units to $16.5 million from $10 million.

The company said it is offering 23.57-million units priced at $0.70 apiece and made up of a share and and one half of a one-year warrant to buy a share for $0.85.

The offering is expected to close on or about July 24.

Proceed will be used for an expansion of the company's Guitarra mine in Mexico and for working capital.

The company's shares were last seen down $0.08 to $0.72 on the TSX Venture Exchange.

Price: 0.72, Change: -0.08, Percent Change: -10.00