Top 6 Mining Deals that Closed this Month:
Osisko Mining Closes C$177 Million “Bought Deal” Private Placement of Units, Including Full Exercise of the Underwriters’ Option
June 23, 2020
- Osisko Mining (TSX:OSK) announced the completion of its C$177 million brokered private placement of 48.5 million at a price of C$3.65 per unit.
- The proceeds received from the offering will be used to advance the Windfall Project as well as for working capital and general corporate purposes.
Lundin Gold Closes C$57.5 Million Bought Deal Financing
June 11, 2020
- Lundin Gold (TSX: LUG) announced that it has closed a C$57.5 million bought deal equity offering of 4.8 million common shares at a price of C$12.05 per share.
- The proceeds from offering are planned to be used to study increased throughput, resource expansion potential at Fruta del Norte, as well as for COVID-19 related costs and for general working capital purposes.
Sabina Gold & Silver Announces $55 Million Bought Deal Financing Closed
June 26, 2020
- Sabina Gold & Silver Corp. (TSX: SBB) announced that it has completed a C$55 million bought deal offering comprised of 12.5 million regular shares at $2.00 per share, 2.1 million flow-through shares at $2.40 per share, 5.2 million charity flow-through shares at $2.68 per share , and 1.6 million super charity flow-through common shares at $2.90 per share.
- In addition, Zhaojin International Mining elected to maintain its 9.9% holdings resulting in the issuing of 2.9 million shares $2.00 per share for an additional $5.8 million.
- Including Zhaojin’s participation, Sabina expects to raise C$61 million.
- The sale proceeds will be used to advance development of Sabina’s Back River Gold Project,
McEwen Mining Closes the Refinancing of Its $50 Million Debt
June 25, 2020
- McEwen Mining (TSX: MUX) (NYSE: MUX) announced the refinancing of its $50 million senior secured term loan facility.
- As part of the refinancing, Sprott Private Resource Lending II, LP has replaced Royal Capital Management Corp. as a lender and Evanachan Limited, a corporation wholly-owned by Rob McEwen, also remains a lender.
O3 Mining Inc. Closes C$40.2 Million “Bought Deal” Private Placement of Flow-Through Units and Units
June 19, 2020
- O3 Mining Inc. (TSXV: OIII) announced that it has closed a C$40.2 million brokered private placement of 4.7 million flow-through units at a price of C$4.30 per flow-through unit and 8.6 million regular units of the at a price of C$2.35 per unit.
- The proceeds from the sale of the flow-through units will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” related to O3 Mining’s projects in Québec. The proceeds from the sale of the regular units will be used by O3 Mining for working capital and general corporate purposes.
Great Bear Resources Closes Previously Announced Bought Deal Private Placement Raising Gross Proceeds of C$33 million
June 02, 2020
- Great Bear Resources (TSXV: GBR) announces that it has closed a C$33.0 million bought deal private placement. Great Bear 47 million flow-through shares at a price of C$17.00 per share and 725,000 regular shares at a price of C$11.04 per share.
- The proceeds from the sale of flow-through shares will be used to incur “Canadian exploration expenses” related to Great Bear’s projects in Ontario and the proceeds from the sale of regular shares will be used to fund exploration activities and for general corporate purposes.
Top 4 Mining Deals Announced this Month:
Artemis Gold Announces Upsize to C$175 Million on the Previously Announced Private Placement of Subscription Receipts
June 12, 2020
- Artemis Gold (TSXV: ARTG) announced that it has entered into a bought-deal agreement with a syndicate of underwriters in connection with C$105 million financing of 38.9 million subscription receipts at a price of C$2.70 per subscription receipt.
- Artemis Gold expects to an additional C$70 million from a non-brokered offering.
- The C$175 million proceeds will be used by Artemis Gold to fund its acquisition of the Blackwater Gold Project in British Columbia from New Gold Inc. with an initial payment of C$140 million and for general corporate purposes.
- The bought-deal offering and non-brokered offering are expected to close on or about July 7, 2020
MAG Silver Announces US$50M At-The-Market Offering
June 30, 2020
- MAG Silver (TSX: MAG) announced it has entered into a sales agreement with six securities firms acting as agents, including Raymond James & Associates and Canaccord Genuity, pursuant to which MAG Silver may sell common shares into the United States exchanges, through the agents, to raise US$50 million.
Sigma Lithium Resources Announces US$45 Million Project Finance Facility with Societe Generale
June 29, 2020
- SIGMA Lithium Resources (TSXV: SGMA) announced the signing of a term sheet for a US$45 million senior secured project finance facility to be led by Societe Generale.
- The project finance facility will be used for the construction and development of SIGMA Lithium’s lithium Grota do Cirilo project in Minas Gerais, Brazil.
Mako Mining Announces $28.4 Million Private Placement of Units
June 03, 2020
- Mako Mining (TSXV: MKO) announced that it has entered into an agreement with a syndicate of underwriters in connection with a “bought deal” private placement financing of 30 million units at a price of $0.40 per unit for proceeds of $28.4 million
- The proceeds from the offering will be used to fund remaining capital expenditures at the San Albino Gold Project in Nicaragua, for debt repayment, exploration expenditures and working capital and general corporate purposes.
- The offering is expected to close on or around July 16, 2020.
SolGold PLC Announces Proposed Fundraising
June 04, 2020
- SolGold (TSX: SOLG)(LSE: SOLG) announced a proposed fundraising to raise a minimum gross proceeds of approximately £16 million (approximately US$20 million) at a price of 21.5 pence per share.
- The fundraising is expected to fund the Company to delivery of a Preliminary Feasibility Study on the Alpala Project in Ecuador in Q3/2020.
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