11:20 AM EDT, 07/12/2024 (MT Newswires) -- Sun Summit Minerals ( SMREF ) on Friday jumped 8.7% on last look after reporting it upsized its non-brokered private placement of common and flow-through share units to raise up to $1.15 million, up from its original $1-million target.

The company is now offering up to 3.58--million flow-through units priced at $0.21 and made up of a tax-advantaged share and one half of a two-year warrant to buy a common share for $0.25.

It will also place up to 2.21 million common-share units priced at $0.18 and made up of a share and a one half of a warrant with the same terms.

Sun Summit plans to use the proceeds to advance exploration on its British Columbia mineral properties and for working capital.

The company's sharess were last seen up $0.02 to $0.25 on the TSX Venture Exchange.

Price: 0.25, Change: +0.02, Percent Change: +8.70