Prime Mining Corp. - Los Reyes Project
Los Reyes Project
Source: Prime Mining
  • Prime Mining Corp. (PRYM) has closed a bought deal private placement for gross proceeds of $21,045,000
  • A total of 14,030,000 units were sold at a price of $1.50 per unit
  • Each unit consists of one common share and one common share purchase warrant
  • The net proceeds from the offering will be used to fund further exploration and development of the company’s Los Reyes Gold-Silver Project
  • Los Reyes is a gold-silver project located in Sinaloa State, Mexico
  • Prime Mining Corp. (PRYM) opened trading at C$1.90

Prime Mining Corp. (PRYM) has closed a bought deal private placement for gross proceeds of $21,045,000.

A total of 14,030,000 units were sold at a price of $1.50 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable at a price of $2.00 until December 22, 2025. 

The warrants are subject to an acceleration clause.

Desjardins Capital Markets acted as sole book-runner on behalf of a syndicate of underwriters co-led by Desjardins Capital Markets and TD Securities Inc., including BMO Capital Markets, PI Financial, and Stifel GMP.

The net proceeds from the offering will be used to fund further exploration and development of the company’s Los Reyes Gold-Silver Project and for general corporate purposes.

The offering included subscriptions from company insiders totalling 2,990,000 units. 

Prime Mining Corp is focused on the exploration, and development of mineral resource properties, primarily targeting high-value and specialty metals. The company’s projects include Los Reyes and Magenta.

Los Reyes is a rapidly evolving high-grade, low-sulphidation epithermal gold-silver project located in Sinaloa State, Mexico. 

Prime Mining Corp. (PRYM) opened trading at C$1.90.


More From The Market Online
AI generated image of crystal ball with stock market chart

ATEX notches C$55 million investment from Agnico Eagle Mines

ATEX Resources (TSXV:ATX) receives a strategic investment of C$55 million from Agnico Eagle Mines (TSX:AEM).
Stock market bar and line charts and graphs.

@ the Bell: TSX losing streak stretches to five days

Despite mining and energy gains, Canada’s main stock index continued its downward slide on Friday. Industrials led the losers on the TSX.
Barrick Gold Corp. dump truck

Barrick Gold denies Mali’s accusations of breaching agreement

Barrick Gold (TSX:ABX) denies Malian Ministry of Mines and the Ministry of Finance allegations that it has not fulfilled its commitments.
Corus Quay broadcast and content facility in Toronto

Corus stock tumbles after reporting Q4 losses

Corus Entertainment (TSX:CJR.B) reports a significant Q4 2024 loss, marking a stark contrast to the profit it posted a year ago.