Magna Mining Launches Significant Share Offering

Magna Mining (TSE:NICU) has released an update.

Magna Mining Inc. has announced a private placement of up to 14,285,700 common shares to potentially raise $15 million, with an option for agents to sell additional shares for up to $2.25 million. The proceeds from this offering, expected to close by October 31, 2024, will fund the advancement of the company’s Sudbury projects and general corporate activities. The offering involves a cash commission for the agents and is contingent upon regulatory approvals and the fulfillment of closing conditions.

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