Primero Mining Corp has announced its intention to raise C$45m ($34.76m) in a bought deal offering of 19.15 million units priced at C$2.35 ($1.81) each to underwriters led by BMO Capital Markets.
Proceeds from the offering will be used to primarily fund development of the San Dimas and Black Fox mines, and for exploration, working capital and general corporate purposes.
The transaction is expected to close on 24 June, when the underwriters have an option to further purchase additional 2,872,500 units at a price of C$2.35 a unit within 30 days. If the option is exercised, the total proceeds from the offering would reach C$52m ($40.17m).
Brunswick Resources has announced that it has signed two option agreements to acquire mining claims in the Jamésie region of north-western Quebec, Canada, in stock and cash.
Under the first option, the company will acquire 29 mining claims, while it will acquire 14 mining claims under the second option.
Centenera Mining Corporation has signed a letter of intent (LoI) with an arm’s length vendor, to wholly acquire the El Quemado Project in Salta Province, north-west Argentina, by issuing 2.5 million common shares and a 2% net smelter royalty to the vendor.
The property hosts 19 claims covering an area of approximately 7,959ha.
Montana Gold Mining has entered an option purchase agreement to acquire 100% interest in the 2,480-acre River Stage Property located in the Dash Lake and Brooks Lake areas in the central part of the Rainy River Gold Camp, Ontario, Canada, adjacent to Chalice Gold Mines’ Cameron Lake gold deposit.
The transaction requires Montana Gold mining to pay C$8,000 ($6,191.52) in cash by 15 June and issue 100,000 common shares priced at C$0.07 ($0.05) each, upon signing of the agreement. It will also pay C$8,000 ($6,192) after one year, and C$12,000 ($9,287.28) and C$25,000 ($19,348.5) in the second and third year respectively.