Canadian metals miner INMET Mining said it will sell 6.75 million shares to account for loses at its Las Cruces mine in Spain.

The C$44.50 in shares will be sold to a syndicate of underwriters on a bought deal basis.

The underwriters, led by Credit Suisse Securities and CIBC World Markets, were given an over-allotment option to purchase an additional 15% of the number of shares sold at the same price.

The offer will close on or about 25 June.