12:17 PM EST, 02/07/2025 (MT Newswires) -- Southern Silver Exploration ( SSVFF ) on Friday upsized a previously announced non-brokered private placement to $3 million from $2.5 million due to increased interest.

The company said the private placement will now consist of 16.7-million units at $0.18 per unit.

Each unit is made up of a share and one-half of a three-year warrant to buy a second share for $0.28.

The company intends to use proceeds for the continued advancement of the Cerro Las Minitas project in Durango, Mexico, and for general corporate and working capital purposes.

Shares of the company were last seen down $0.015, or 6.3%, to $0.225 on the TSX Venture Exchange.

Price: 0.23, Change: -0.02, Percent Change: -6.25