Kestrel Gold Inc (CVE:KGC) has increased its previously announced private placing to raise up to C$500,000 gross.
The company will now issue up to 10mln units at five cents each.
READ: Kestrel Gold set to raise C$400,000; unveils board changes
Proceeds will be used for finders' fees of up to C$40,000, exploration activities of C$35,000 and up to C$425,000 for general working capital, it said.
Each unit consists of one share and one share purchase warrant, entitling the holder to acquire one further share at an exercise price of five cents each for 24 months from issue.
Kestrel Gold has the King Solomon's dome project in Yukon and options to earn 100% in four gold projects totalling around 5,700 hectares in the Yukon portion of the Tintina Gold Belt, as well as four copper-gold projects in British Columbia, Canada.
Kestrel's proposed 2018 work programmes is aimed at enhancing the value of these projects.