- Fury Gold Mines (FURY) has upsized its private placement for gross proceeds of $8.75 million
- The company will issue roughly 6,076,500 flow-through (FT) common shares at a price of $1.44 per share to a group of underwriters led by Haywood Securities
- Fury also agreed to give the underwriters the option to purchase an extra $1,249,840 worth of FT shares
- Proceeds will be used for eligible Canadian exploration expenses
- The offering is expected to close by March 23
- Fury Gold Mines (FURY) is down 10.99 per cent, trading at C$0.81 per share at 3 pm ET
Fury Gold Mines (FURY) has upsized its previously-announced private placement for gross proceeds of $8.75 million.
The company will issue roughly 6,076,500 flow-through (FT) common shares at a price of $1.44 per share to a group of underwriters led by Haywood Securities.
Fury has agreed to offer the underwriters an option to purchase up to an extra $1,249,840 worth of FT shares for the same issue price.
The company will use the total proceeds for eligible Canadian exploration expenses that qualify as flow-through mining expenditures. Such expenditures include exploration work on of the company’s Eau Claire and Éléonore South joint venture projects in Quebec.
The offering is expected to close by March 23. The company has agreed to pay the underwriters a cash commission of up to 6.00 per cent of the gross proceeds raised under the offering.
Fury is a Canadian exploration company working in two major mining regions across the country. Additionally, it holds a 23.50 per cent interest in Dolly Varden Silver. Fury shared it intends to grow its multi-million-ounce gold platform through ongoing project evaluation and exploration.
Fury Gold Mines (FURY) is down 10.99 per cent, trading at C$0.81 per share at 3 pm ET.