PVW Resources (ASX:PVW) has entered an agreement to acquire Southern Prospecting, which has the option to acquire interests in the Cobb Creek, the Colorado Gulch, and the Silverstar projects in the US, according to a Wednesday filing with the Australian bourse.

The company has also received firm commitments to raise about AU$2.5 million through the issue of 167 million new shares at AU$0.0165 apiece, to existing and new sophisticated investors, the filing said.

Each new share includes one free attaching option exercisable at AU$0.025 within two years, the filing added.

Shares of the company rose past 22% and recently hit a 52-week high.