Toronto-listed Campbell Resources is planning to sell $10-15 million in special warrants which can be swapped for common shares at 88 cents each.
Proceeds from the financing will be used to develop reserves and increase gold production to about 75,000 oz. per year from 62,000 oz. at the Joe Mann mine in Chibougamau, Que. Some of the money will also be used to explore properties in the state of Sonora in western Mexico.
The transaction, which is subject to regulatory approval, is expected to close in mid-June.
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