04:46 PM EDT, 06/23/2025 (MT Newswires) -- (Updates with increase in offer size.)

Minaurum Gold ( MMRGF ) said Monday afternoon it upsized its previously disclosed private placement, aimed at advancing the Alamos silver project in Mexico.

Minaurum now plans to raise up to $8 million through a "best efforts" private placement, up from its prior $5-million target announced earlier on Monday.

The offering will include the sale of 32-million units at $0.25 per unit. Each unit consists of a share and one-half of a two-year warrant to buy a second share for $0.37.

The company has also granted its agents an over-allotment option of up to $1.2 million in additional units.

The company said it will use the proceeds to advance its Alamos project, property maintenance and permitting costs, and for general working capital purposes.

Minaurum shares closed down $0.02 to $0.25 on the TSX Venture Exchange