Following in the steps of two other major Canadian gold producers, Corona (TSE) has gone to the market to raise capital through an offering worth almost $100 million.
Toronto-based Corona will issue nine million units, each unit consisting of one A share and half a warrant, at $10.75 per unit. Each warrant provides for the purchase of one A share at $12 per share by June 30.
Trilon Securities, Gordon Capital, Loewen Ondaatje McCutcheon and Goepel Shields Partners have agreed to purchase six million units, while U.K. investment dealer Laing & Cruickshank has agreed to purchase three million units. The units will not be offered to investors in the U.S.
Both LAC Minerals and American Barrick Resources recently went to the market with offerings exceeding $100 million.
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