-- (Updates with details on the upsized private placement in the first and second paragraphs.)
Astra Exploration (ASTR.V) upsized its bought-deal private placement announced earlier on Wednesday to $13 million from C$10 million.
The company will now sell underwriters 16.9 million shares priced at $0.77 each instead of the original 13-million . Astra also increased the underwriters' over-allotment option. They can now buy up to an additional 2.6-million shares instead of 1.9 million shares, which could bring in up to C$2 million in additional proceeds.
The company intends to use net proceeds from the offering for exploration and development of the La Manchuria project and for general corporate and working capital purposes, it said.