Dore Copper Mining Announces $13.0 Million Bought Deal Financing
Dore Copper Mining Corp (TSXV: DCMC) this morning announced that it has entered into an arrangement with Cormark Securities and Paradigm Capital to conduct a bought deal financing. The financing is to consist of a $8.0 million bought deal for common shares of the company, as well as a $5.0 million bought deal for flow through shares.
Under the terms of the financing, the common share offering is to be priced at $1.00 per share, resulting in 8.0 million shares of the issuer being sold. The flow through offering meanwhile is being conducted at a price of $1.72 per flow through share, resulting in a total of 2.9 million shares being sold. No warrants are being offered in connection with the financings.
An over-allotment option for an additional 1.6 million common shares has been issued in connection with the financing as well.
Proceeds from the offering are to be used for exploration and development activities, as well as working capital and general corporate purposes.
The financing is currently slated to close June 9, 2021.
Dore Copper Mining Corp last traded at $1.08 on the TSX Venture.
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