11:31 AM EDT, 03/20/2024 (MT Newswires) -- Americas Gold and Silver Corp. ( USAS ) said Wednesday that it is raising $6.5 million in a private placement of up to 21,667,000 units priced at $0.30 apiece.

The company plans to use the proceeds to fund working capital at the Cosala operations in Mexico and the Galena complexin Idaho, as well as for general and administrative purposes.

Each unit will comprise one share and one warrant. Each warrant is exercisable at $0.40 per share for 36 months. Closing is expected March 27.

The company at last look lost 9.5% in early Wednesday trading.

Price: 0.29, Change: -0.03, Percent Change: -9.52