Kootenay Silver Inc. (TSX-V:KTN) announced it is increasing the size of its private placement to $5 million.
Under the upsized terms of the financing, the Vancouver-based resource company is increasing the price of their units to $0.22 from $0.16.
Each unit will be comprised of one share and one warrant exercisable at a price of $0.22 per for a period of 36 months from the closing of the offering.
READ: Kootenay Silver set to raise up to C$4M in a private placement financing
The company plans to use the net proceeds for working capital requirements and other general corporate purposes.
The agent will have an option to offer for sale up to an additional 15% of the number of units sold in the offering at the offering price at any time up to 48 hours prior to the closing of the offering.
Vancouver-based Kootenay Silver is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico, with one of the largest junior portfolios of silver assets in the country.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas