NEVDF - Nevada Copper upsizes and prices C$114M in units offering

Nevada Copper (OTCPK:NEVDF) upsized its earlier announced overnight marketed public offering of units to ~C$114M from C$75M led by strong demand, including from new and existing institutional investors and mining sector corporates. The upsizing will provide the company with additional funds to advance the ramp-up of its underground mine at its Pumpkin Hollow project and to continue exploration and expansion studies at its open pit project at Pumpkin Hollow. The company has entered into underwriting agreement wherein it will sell 148.1M units at C$0.77 for gross proceeds of ~C$114M. Nevada's largest shareholder, Pala Investments has committed to purchase 89.3M units to maintain its current shareholding percentage. Each unit consists of one share and one-half of one common share purchase warrant wherein warrant holder will be exercised for one share at C$1. Underwriters granted 30-days option to purchase an additional 22.2M units; if over-allotment option will be exercised the total gross proceeds

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Nevada Copper upsizes and prices C$114M in units offering