Top 10 Mining Deals this Month:
Equinox Gold Receives $145 Million from Exercise of Warrants
May 27, 2020
- Equinox Gold Corp. (TSX: EQX) reported that, from April 1 to May 25, 2020, various securityholders exercised warrants for proceeds to Equinox Gold of approximately $145 million.
- As at May 26, 2020, Equinox Gold’s cash balance was more than $480 million.
- Equinox Gold intends to use proceeds from the warrant exercises to advance its development and expansion projects, continue exploration, reduce debt, and for general corporate and working capital purposes.
Fortuna Silver Mines Closes US$69 Million Bought Deal Equity Financing Including Full Exercise of Over-Allotment Option
May 20, 2020
- Fortuna Silver Mines Inc. (TSX: FVI) announced the closing of its bought deal equity offering of 23 million shares at US$3.00 per share.
- Fortuna Silver intends to use the proceeds of the offering to fund remaining construction and preproduction related expenditures at its Lindero gold project in Argentina and for general working capital purposes.
Bluestone Resources Closes C$92 Million Bought Deal Equity Financing Including Full Exercise of Over-Allotment Option
May 1, 2020
- Bluestone Resources Inc. (TSXV: BSR) reported that the company closed its bought deal equity offering of 52.578 million shares at C$1.75 per share.
- Bluestone Resources currently intends to use the proceeds from the offering to advance the Cerro Blanco project in Guatemala, as well as for working capital and general corporate purposes.
Lundin Gold Inc. Announces C$50 Million Bought Deal Financing
May 26, 2020
- Lundin Gold Inc. (TSX: LUG) announced that it has entered into a bought deal agreement with BMO Capital Markets of 4.15 million shares, at a price of C$12.05 per share for gross proceeds of approximately C$50 million.
- The net proceeds of the offering will be used to study increased throughput, resource expansion potential at Fruta del Norte, as well as for potential COVID-19 related costs and for general working capital purposes.
Sabina Gold & Silver Announces C$49 Million Bought Deal Financing
May 19, 2020
- Sabina Gold & Silver Corp. (TSX: SBB) announced the closing of its bought deal equity offering of:
- 5 million common shares will be offered at C$2.00 per share, for gross proceeds of approximately C$25 million,
- 1 million Flow-Through common shares will be offered at a price of C$2.40 per Flow-Through common share for gross proceeds of approximately C$5 million.
- 224 Charity Flow-Through common shares will be offered at a price of C$2.68 per Charity Flow-Through common share for gross proceeds of approximately C$14 million.
- 638 Super Charity Flow-Through common shares will be offered at a price of C$2.90 per Super Charity Flow-Through common share for gross proceeds of approximately C$5 million.
- The net proceeds from the sale will be used to advance development of the Sabina’s Back River Gold Project and for working capital & general corporate purposes.
O3 Mining Inc. Announces Upsized Bought Deal Private Placement of Flow-Through Units and Units to C$35 Million
May 28, 2020
- O3 Mining Inc. (TSXV: OIII) announced that the underwriters have agreed to purchase, on a bought deal private placement basis: (i) 4,651,200 flow-through units at a price of C$4.30 per flow-through unit, and (ii) 6,383,000 units of O3 Mining at a price of C$2.35 per unit, for aggregate gross proceeds of C$35 million.
- Each Unit will consist of one common share and one-half of one warrant at an exercise price of C$3.25, for a period of 24 months.
- The gross proceeds from the sale of the flow-through units will be used by O3 Mining to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” related to O3 Mining‘s projects in Québec.
Marathon Gold Announces Closing of C$34.5 Million Bought Deal Financing
May 26, 2020
- Marathon Gold Corporation (TSX: MOZ) announced that it has completed a bought deal offering of 23 million units at a price of C$1.50 per unit.
- Each Unit will be comprised of one common share and one-half of one common share purchase warrant at an exercise price of C$1.90 per share, for a period of 12 months.
- Marathon Gold intends to use the proceeds from the offering to continue the permitting, development, and exploration of the Valentine Gold Project in Newfoundland, as well as for working capital and general corporate purposes.
Great Bear Resources Announces Upsized Bought Deal Private Placement Offering of C$33 Million
May 12, 2020
- Great Bear Resources Ltd. (TSXV: GBR) announced that, part of a previously announced bought deal private placement, Great Bear will now issue 1.47 million Flow-Through common shares at a price of C$17.00 per Flow-Through share and 0.725 million 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”.
NexGen Energy Closes US$30 Million Financing with Queen’s Road Capital
May 28, 2020
- NexGen Energy Ltd. (TSX: NXE) announced that it has closed a US$30 million financing with Queen’s Road Capital Investment, comprising:
- 6 million shares at a price of C$1.80 per share for US$15 million.
- US$15 million of unsecured convertible debentures, carrying a 7.5% coupon over a 5-year term, and convertible at C$2.34 per share.
- After the financing, NexGen has cash reserves of approximately C$78 million.
- Proceeds from the financing will be used to the fund the permitting and development of the NexGen’s Rook I uranium project in Saskatchewan and for general corporate purposes.
Americas Gold and Silver Announces Closing of C$28.75 Million Bought Deal Financing
May 13, 2020
- Americas Gold and Silver Corporation (TSX: USA) announced that it has closed a bought deal financing of 10.27 million shares at a price of C$2.80 per share.
- The net proceeds will be used for working capital and general corporate purposes, primarily the exploration, development and/or improvement of the company’s existing mine properties, including those relating to bringing Relief Canyon in Nevada into commercial production.
Other Notable Mining Deals this Month:
- Ascot Resources (TSX: AOT) announces a C$25 million bought deal financing.
- New Pacific Metals Corp. (TSXV: NUAG) announces a C$25 million bought deal financing.
- Victoria Gold (TSX: VGCX) completes its previously announced $23 million public offering.
- Great Panther (TSX: GPR) announces closing of its US$16.1 million bought deal financing.
- TMAC Resources (TSX: TMR) announces closing of US$15 million private placement.
- Euro Sun Mining (TSX: ESM) announces upsizing of previously announced bought deal public offering of units to C$20 million.
- Northern Dynasty Minerals (TSX: NDM) announces closing of it C$10.1 million underwritten offering.
- Ely Gold Royalties (TSXV: ELY) announces closing of its C$17.25 million brokered private placement.
- Mawson Resources (TSX: MAW) closes its C$17 million public offering of units.
- Amex Exploration Inc. (TSXV: AMX) increases its bought deal private placement to $15.75 million.
- Fosterville South Exploration Ltd. (TSXV: FSX) closes its $15 million financing.
- Pure Gold Mining Inc. (TSXV:PGM) raises $12.3 million from the exercise of share purchase warrants.
- Condor Gold Plc (AIM:CNR) raises £6.6 million via a private placement of new ordinary shares.
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