GoldMining Inc. (TSX: GOLD) announced on Friday its latest financing move. The mining company is looking to raise US$50 million through an at-the-market equity program.
The agreement has been entered with a syndicate of agents led by BMO Nesbitt Burns, with the company selling shares directly on both the Toronto Stock Exchange and the New York Stock Exchange. Shares will be issued from time to time at the prevailing market price.
The proceeds from the offering are expected to fund the exploration and development of the firm’s mineral properties, future acquisitions, and its working capital.
The equity program comes more than a month after the company secured a US$20 million credit facility with the Bank of Montreal.
GoldMining last traded at $1.47 on the TSX.
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