Foran Mining (TSE:FOM) has released an update.
Foran Mining Corporation has increased their private placement offering to C$360M, with the aim to fund the exploration and development of their mineral projects in Saskatchewan. The upsized offering includes a mix of common shares at C$4.05 each and flow-through shares priced between C$6.27 and C$6.88. The proceeds are also earmarked for working capital and general corporate purposes, with Agnico Eagle Mines maintaining a 9.9% interest post-offering.
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