CXBMF - Calibre Mining Announces C$100 Million Bought Deal Financing | Benzinga
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VANCOUVER, British Columbia, March 19, 2024 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX:CXB, OTCQX:CXBMF) (the "Company" or "Calibre") has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 59,600,000 common shares (the "Common Shares") of the Company, at a price of $1.68 per Common Share for gross proceeds of $100 million (the "Offering"). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about April 16, 2024 and is subject to Calibre receiving all necessary regulatory approvals.
The net proceeds of the offering will be used (i) towards the continued development of the Company's Valentine gold project, El Limon mine, La Libertad mine and Pan mine, (ii) to advance exploration programs; and (iii) for general corporate and working capital purposes.
The Common Shares will be offered by way of a short form prospectus in all of the provinces and territories of Canada, excluding Quebec, and may also be offered by way of private placement in the United States.
The securities offered have not ...