- Filo Mining (TSX:FIL) has increased its non-brokered private placement to raise gross proceeds of $130 million, due to strong demand
- It will use the net proceeds for development of the company’s Filo del Sol project, in San Juan Province, Argentina
- Filo Mining is a Canadian exploration and development company
- Filo Mining Corp. (FIL) is up 1.34 per cent, trading at C$22.66 per share at 3:35 pm ET
Filo Mining (TSX:FIL) has increased its non-brokered private placement to raise gross proceeds of $130 million, due to strong demand.
The company now plans to issue a total of 6,161,138 common shares at $21.10. It will use the net proceeds for development of the company’s Filo del Sol project, in San Juan Province, Argentina. It will also use part of the proceeds for working capital and general corporate purposes.
The company may pay a finder’s fee of 5 per cent in connection with a portion of the private placement. It anticipates closing the private placement as soon as practicable subject to receipt of all necessary regulatory approvals.
The Lundin Family Trusts will acquire common shares under the private placement, as a “related party transaction”.
About the company
Filo Mining is a Canadian exploration and development company. It focuses on advancing its 100 per cent owned Filo del Sol copper-gold-silver deposit which is located in San Juan Province, Argentina and adjacent Region III, Chile.
Filo Mining Corp. (FIL) is up 1.34 per cent, trading at C$22.66 per share at 3:35 pm ET.
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