Edge Copper (EDCU.V) on Tuesday said it closed an overnight marketed offering and concurrent private placement that raised $23.04 million.
The offering consisted of around 32.74-million shares priced at $0.58 each, including 2.58-million shares from the underwriter's over-allotment option, raising $19 million.
Concurrent with the closing of the public offering, the company completed a non-brokered private placement of 6.97-million shares to purchasers, including insiders of the company, at a price of C$0.58 each, for gross proceeds of $4.05 million.
Proceeds will primarily be used to advance exploration and development of its wholly-owned Zonia Copper Project in Arizona.
The company's shares were last seen up $0.01 to $0.55 on the TSX Venture Exchange.
Price: $0.55, Change: $+0.01, Percent Change: +1.85%