12:03 PM EDT, 07/21/2025 (MT Newswires) -- Sierra Madre Gold and Silver ( SMDRF ) on Monday upsized its private placement offering of share units to raise up to $19.5 million, up from the previous $16.5 million target.

The company will now issue up to 27.86-million units at $0.70 each. Each unit will consist of a share and a 12-month warrant to buy a share at $0.85.

Eric Sprott is expected to participate in the offering, which is expected to close on July 24, the company said.

The offering's proceeds will be used to expand the capacity of the Guitarra mine in Mexico.

Sierra Madre shares are down $0.01 to $0.80 on the TSX Venture Exchange.

Price: 0.79, Change: -0.02, Percent Change: -2.47