Source: Karora Resources Inc.
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  • Karora Resources (KRR) has upsized its bought deal financing to C$60 million
  • The underwriters have agreed to purchase 12,500,000 common shares at a price of $4.80 per share
  • The offering is scheduled to close on June 15, 2022
  • Karora Resources is a mineral resource company focused on the exploration and development of precious metal properties
  • Karora Resources Inc. (KRR) is down 5.64 per cent, trading at $4.85 per share at 2 pm ET

Karora Resources (KRR) has upsized its previously announced bought deal financing to C$60 million.

Haywood Securities Inc. and Cormark Securities Inc. on behalf of a syndicate of underwriters have agreed to purchase, on a bought deal basis, 12,500,000 common shares at a price of C$4.80 per share.

The underwriters have the option to purchase up to an additional 15 per cent of the number of common shares sold up to 30 days following the closing of the offering.

Net proceeds will be used to fund a portion of the the Lakewood Mill acquisition, advancement of the corporation’s nickel exploration and development program at the Beta Hunt Mine in Australia, and for working capital and general corporate purposes.

The offering is scheduled to close on June 15, 2022 and is subject to the approval of the Toronto Stock Exchange and the securities regulatory authorities.

Karora Resources is a mineral resource company focused on the exploration and development of precious metal properties.

Karora Resources Inc. (KRR) is down 5.64 per cent, trading at $4.85 per share at 2 pm ET.

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