02:01 PM EDT, 07/16/2025 (MT Newswires) -- Southern Silver Exploration ( SSVFF ) on Wednesday fell 11% after it increased the size of bought-deal private placement of share units to $13 million from $8 million.

The company is selling underwriters 48.1-million units at $0.27 apiece, with an over-allotment option of a further 7.4-million units.

Each unit is made up of a share and one half of a three-year warrant to buy a share for $0.40.

Proceeds from the offering will be used for the advancement of the Cerro Las Minitas project located in the state of Durango, Mexico, and for working capital and general corporate purposes.

Shares of the company were last seen down $0.035 to $0.26 on the TSX Venture Exchange.

Price: 0.26, Change: -0.04, Percent Change: -11.86