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FireFly Metals Completes AU$180 Million Equity Raising

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FireFly Metals (ASX:FFM) completed its AU$180 million equity raising, comprising a AU$150 million institutional placement at AU$1.78 per share and an around AU$30 million bought deal on the Toronto Stock Exchange (TSX) at CA$1.76 per share, according to a late Thursday statement by the company.

The company issued 16.8 million ordinary shares through the TSX offering.

The company will also launch a non-underwritten share purchase plan on Friday for eligible shareholders in Australia and New Zealand, offering up to AU$30,000 worth of shares at AU$1.78 each and aiming to raise an additional AU$10 million, with applications expected to close on Sept. 23.

The funds will be used to advance the Green Bay Copper-Gold Project, fund exploration and technical studies, strengthen the balance sheet ahead of project financing, and cover corporate, transaction and working capital costs.

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