Altius Minerals Corporation has announced a bought deal offering of 3,112,000 common shares at a price of C$11.25 ($8.74) per share, for gross proceeds of approximately C$35m ($27.2m).
Underwriters to the offer, TD Securities and Scotiabank, are also granted a 30-day over-allotment option to purchase up to an additional 466,800 common shares at a price of C$11.25 ($8.74) per share. Scheduled to close in the first week of May 2016, the offer is subject to conditions such as the receipt of all necessary approvals as mandated by the law.
The proceeds from the offering will enable the Canadian mining royalty company to partially fund its future and current acquisitions including that of Chapada copper-gold mine in Brazil, and to repay its debt.
Nevada Energy Metals has completed the acquisition of 100% interest in BFF-1 Lithium project.
Located in Clayton Valley, Esmeralda County, Nevada, US, the project entails 60 claims, covering an area of approximately 1,200 acres (484ha).
Garibaldi Resources has completed the acquisition of the 100% interest in the King property, located in British Columbia, Canada.
The property, located 12km north of Iskut River, hosts high-grade silver-lead-zinc and gold-copper mineralisation, is in close proximity to historic mines including Snip and Eskay Creek.
The acquirer company is a junior exploration company based in Canada.
Rostock Ventures and Rangefront Consulting have signed a letter of intent (LoI) for an asset transaction.
The ELON Lithium claims block comprises four placer claims of 20-acre each and will be acquired by the former from Rangefront Consulting, as per the LoI. The block is located in Clayton Valley, Nevada, US.
Rostock Ventures will pay $3,500 and issue 200,000 shares to Rangefront Consulting, subsequent to the signing of the Definitive Agreement.
Image: Altius Minerals Corporation owns the Chapada copper-gold mine in Brazil.