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FireFly Metals Raises AU$180 Million Via ASX Placement, TSX Bought Deal for Canada Copper-Gold Project

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FireFly Metals (ASX:FFM) launched an equity raising of about AU$180 million before costs through the issue of up to about 101.1 million fully paid ordinary shares at AU$1.78 per share, according to a Tuesday Australian bourse filing.

The company said it has entered into an agreement with Canaccord Genuity Australia to raise about AU$150 million through an ASX placement of about 84.3 million new shares at AU$1.78 per share.

FireFly also entered into a bought deal private placement on the Toronto Stock Exchange with BMO Nesbitt Burns, pursuant to which BMO on behalf of a syndicate of underwriters has agreed to purchase about 16.8 million new shares at CA$1.76 per share for gross proceeds of about CA$29.6 million, the filing added.

Net proceeds will be primarily used to advance project implementation for the Green Bay Copper-Gold Project in Canada, it added.

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