11:05 AM EDT, 10/24/2024 (MT Newswires) -- Spanish Mountain Gold ( SPAZF ) on Thursday said it increased the size of its brokered private placement to $6.5 million, from $5 million to complete a preliminary economic assessment and fund additional drilling on the Spanish Mountain project in B.C.

The company will now issue up to 18.5-million units at $0.135 each, to raise $2.5 million. Spanish Mountain will also issue up to 16.1 million flow-through units at $0.155 each, to raise $2.5 million, and up to 7.5 million charity FT units at $0.20 each, for $1.5 million.

Each unit is comprised of one share and one whole or half a warrant.

The offering will close on Nov 13.

Spanish Mountain Gold ( SPAZF ) was last seen unchanged at $0.14 on the TSX Venture Exchange.

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