Filo Mining increases private placement to C$130 million

- Filo Mining announced on Friday that due to strong demand it has elected to increase the previously announced non-brokered private placement to an aggregate of 6,161,138 common shares of the company at a price of C$21.10 per common share for gross proceeds of C$130 million.

On May 31, 2023, the company reported that it intends to sell on a non-brokered private placement basis, an aggregate of 4,739,337 common shares of the company at a price of C$21.10 per common share for gross proceeds of C$100 million. In a press release, Filo Mining said that the company's largest shareholders, the Lundin Family Trusts and BHP, have indicated their intention to participate in the private placement.

The company noted that the net proceeds from the private placement will be used for exploration and development of the company's Filo del Sol project and for working capital and general corporate purposes. Filo Mining is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in San Juan Province, Argentina and adjacent Region III, Chile.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Filo Mining raises C$100 million for the Filo del Sol projectA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Canada's EV momentum could stall without more mines, say mining, auto execsMining and auto industry advocates are warning that despite Canada’s early successes in securing downstream components of the electric vehicle battery supply chain, slow progress on getting mines built puts Canada’s attempt to secure an outsized share of the battery market at risk.
Source: AutoNewsCanada - 🏆 77. / 51 Read more »

Canada's mining, quarrying, and oil and gas extraction expands for third consecutive monthA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Addressing cognitive bias in gold mining could attract more investors - Osisko Gold RoyaltiesA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Mining giant Rio Tinto to invest $395M in Pilbara desalination plantA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »