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Blue Moon Metals Closes C$156.23-Million Bought-Deal Share Offerings; Shares up 5.6%

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Blue Moon Metals (MOON.V) on Wednesday said it closed a bought-deal public offering of shares and concurrent bought deal private placement, raising C$156.23 million.

The company sold underwriters 10.63-million shares priced at C$10.00 in the public offering, raising C$106.23 million, including the partial exercise of the underwriters' over-allotment option.

The concurrent private placement sold five-million shares at the same price for proceeds of C$50 million.

The proceeds are expected to be used for construction of the Nussir and Blue Moon projects, development capital for the Springer Tungsten and Apex projects, additional exploration at the foregoing projects, working capital, U.S. growth activities and general and administrative and corporate activities.

The company's shares were last seen up $0.51 to $9.60 on the TSX Venture Exchange.

Price: $9.60, Change: $+0.51, Percent Change: +5.61%

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