Magna Mining (TSE:NICU) has released an update.
Magna Mining Inc. has expanded its private placement offering from $15 million to $19 million, with the option to increase proceeds by an additional $2.85 million through the sale of extra common shares. The funds raised are slated to further develop the company’s Sudbury projects and for general corporate use. The offering, which includes a commission to agents, is set to conclude by the end of October 2024, subject to regulatory approvals and a standard four-month hold period for the securities in Canada.
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