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Source: Three Valley Copper
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  • Three Valley Copper Corp. (TVC) has closed its bought deal financing
  • The company issued a total of 56,681,000 units on a bought deal basis, at an offering price of $0.32 per unit
  • Three Valley also issued 819,000 additional common share purchase warrants according to the exercise of the over-allotment option at an offering price of $0.08 per warrant, for gross proceeds of approximately $18.2 million
  • Three Valley intends to use the net proceeds to fund the advancement and exploration of its flagship Minera Tres Valles copper project and for working capital and general corporate purposes
  • Three Valley Copper Corp. (TVC) is down 2.04 per cent and is trading at $0.24 per share as of 3:25 p.m. EST

Three Valley Copper Corp. (TVC) has closed its previously announced bought deal financing.

The company issued a total of 56,681,000 units on a bought deal basis, at an offering price of $0.32 per unit.

It included 6,681,000 units issued according to the exercise of the over-allotment option.

Three Valley also issued 819,000 additional common share purchase warrants according to the exercise of the over-allotment option at an offering price of $0.08 per warrant, for gross proceeds of approximately $18.2 million. 

Each unit consists of one Class A common share in the capital of the company and one warrant.

Each warrant entitles the holder thereof to purchase one common share at a price of $0.45 for a period of 30 months following the closing of the offering.

Three Valley intends to use the net proceeds to fund the advancement and exploration of its flagship Minera Tres Valles copper project and for working capital and general corporate purposes.

Three Valley paid the underwriters a cash fee of 6 per cent of the aggregate gross proceeds raised from the offering.

The company issued to the underwriters 3,400,860 non-transferable compensation warrants equal to 6 per cent of the number of units sold.

Each compensation warrant is exercisable into one common share at the offering price for a period of 30 months following closing.

Three Valley Copper Corp. (TVC) is down 2.04 per cent and is trading at $0.24 per share as of 3:25 p.m. EST.

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