One day after announcing plans to raise C$20 million in a bought deal offering, Neo Lithium Corp. increased the offering to C$25 million.

The offering will now comprise 22,731,819 units priced at C$1.10 apiece, with closing remaining scheduled to occur on or about Feb. 22.

The company will use the proceeds to advance its Tres Quebradas lithium property in Argentina and for working capital.