- Adventus Mining (ADZN) has closed its bought deal public offering for gross proceeds of C$33,557,415
- The company issued a total of 34,569,500 units and 250,000 common share purchase warrants
- Net proceeds will be used to support the continued development of several projects including Curipamba, El Domo and the Santiago Project
- Adventus Mining is a copper-gold exploration and development company
- Adventus Mining Corporation (ADZN) opened trading at $0.855 per share
Adventus Mining (ADZN) has closed its bought deal public offering for gross proceeds of C$33,557,415.
The offering was completed through a syndicate of underwriters led by Raymond James Ltd. and National Bank Financial Inc. as joint bookrunners and a syndicate of underwriters including BMO Nesbitt Burns Inc., Cormark Securities Inc., Stifel Nicolaus Canada Inc., PI Financial Corp., and Haywood Securities Inc.
The company issued a total of 34,569,500 units and 250,000 common share purchase warrants. The agents partially exercised the over-allotment option.
Each unit consists of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to acquire one additional share at a price of C$1.20 with an expiry date of July 26, 2023.
Wheaton Precious Metals Corp. acquired 3,505,100 units.
The net proceeds of the offering will be used to support pre-construction and optimization costs at Curipamba, infill and expansion drilling at El Domo’s underground deposit, an initial drill program at the Santiago Project, and for general corporate purposes and working capital.
Adventus Mining is a copper-gold exploration and development company, focused primarily in Ecuador.
Adventus Mining Corporation (ADZN) opened trading at $0.855 per share.
