Hi-View Resources (CSE:GXLD) is upsizing its recently announced private placement to C$2.3 million ($2.31 million) to fund its Canadian exploration efforts.
The gold junior initially planned to raise C$1.5 million through an offering of approximately 3.75 million flow-through units at C$0.40 each.
It now intends to increase the number of units to 5.76 million at the same price, for total proceeds of C$2.3 million.
As disclosed previously, each unit comprises one common share in Hi-View and one-half of a share purchase warrant.
Each whole warrant can be exercised at C$0.42 per share for 24 months.
Proceeds will go towards Hi-View’s copper and gold exploration activities in Canada, specifically British Columbia.
Hi-View Resources is currently advancing a portfolio of five projects spanning almost 28,000 hectares in the Toodoggone district.
An exploration program was initiated in July, focusing on target generation across the Lawyers East, Borealis, and Golden Stranger properties.
Write to Jackson Chen at Mining.com.au
Image: Hi-View Resources
