UPDATE 1-CGA Mining to raise C$25 mln in private placement

* Says to offer shares at C$1.70 apiece

* Shr price a discount of 13 pct to Monday's close

Sept 21 (Reuters) - CGA Mining Ltd (CGA.TO) said it would raise C$25 million in a private placement to fund further enhancements in plant and exploration activities at its Masbate gold project and for general corporate purposes.

The offering at C$1.70 apiece is at a discount of nearly 13 percent to the stock's closing price Monday on the Toronto Stock Exchange.

BMO Nesbitt Burns and Haywood Securities would act as agents for the offering, which is expected to close the week of Oct. 26, the company said.

Shares of the company closed at C$1.95 on the Toronto Stock Exchange. (Reporting by Amit Kumar in Bangalore; Editing by Maju Samuel)