Planet increases financing to US$4.52mn

Canadian junior Planet Exploration (TSX-V: PXI) said it had increased its previously announced bought deal financing from Cdn$5.04mn to Cdn$6.02mn (US$4.52mn), the company said in a statement. Under the revised deal, 4.3 million units (as opposed to the previous 3.6 million) will be sold at a price of Cdn$1.40 a piece, with Haywood Securities acting as underwriter, it said. Net proceeds will be used to finance the company's assets, including its Mexican mineral properties, and for general working purposes, it said. Planet has the 7,000ha Copalquin gold-silver property in Mexico's Durango state. The company also holds gold projects in Canada and Mongolia.