Viscount Mining Corp (CVE:VML) (OTCMKTS:VLMGF) is set to bring in around $1 million gross via a non-brokered private placement.
The British Columbia-based company will issue over 5 million units at $0.20 each, to raise gross $1,002,500.
Each unit consists of one company share and one share purchase warrant, which will entitle the holder to buy a further share for two years from the closing date at $0.35 per warrant share.
Three directors took part in the financing, the firm said in a statement.
"The net proceeds from the placement will be used to advance the company's projects in Nevada and Colorado and for general corporate and working capital."
Viscount is a project generator with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.