Orla Mining Ltd. (TSX: OLA) announced today that it has recently closed its previously announced non-brokered financing. The offering was reportedly participated by Canadian businessman Pierre Lassonde, Agnico Eagle Mines (TSX: AEM), and Trinity Capital Partners.
The financing raised total gross proceeds of $43.2 million from issuing 9,085,263 common shares at $4.75 per share. No warrant was offered under the terms of the financing.
The mining company relayed that the proceeds will be used to develop its 100%-owned projects: Camino Rojo Oxide Gold in Central Mexico and Cerro Quema Oxide Gold in Panama. The proceeds will also be utilized on exploration activities and technical studies on the company’s Camino Rojo Sulphide project, as well as general corporate purposes.
Orla Mining last traded at $4.72 on the TSX.
Information for this briefing was found via Sedar and Orla Mining. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.