- Eldorado Gold announced today that it has entered into agreements with respect to a C$81.5 million strategic investment in Eldorado by the European Bank for Reconstruction and Development .
Eldorado noted that the proceeds of the private placement will be invested in the Skouries project in Northern Greece, and will be credited against the company’s 20% equity funding commitment per the terms of the project financing facility that closed on April 5, 2023. Moreover, the company has granted the underwriters an over-allotment option to purchase up to an additional 1,560,000 common shares, exercisable, in whole or in part, at any time up to 30 days from the closing of the offering. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering would be C$155 million.