Blue Moon Metals launches C$60m bought-deal financing
Toronto-listed Blue Moon Metals has announced a C$60-million bought-deal public offering to fund development and exploration across its portfolio of polymetallic projects.
The financing, led by Scotiabank and Canaccord Genuity as joint bookrunners, will see underwriters purchase 18.2-million common shares at C$3.30 each. The syndicate, which also includes Cormark Securities as co-lead, has been granted a 15% over-allotment option that could lift the total proceeds to about C$69-million.
Blue Moon said net proceeds would be directed towards advancing the Blue Moon zinc/gold/silver/copper project in California, confirming a processing solution for its mineralised material, exploration at its Norwegian projects Nussir and NSG, and for working capital and corporate purposes.
The offering is expected to close on or about October 1, subject to regulatory approvals.
Blue Moon is advancing three brownfield polymetallic assets, comprising the Blue Moon project in the US, and the Nussir and NSG projects in Norway.
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