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Irruptive Metals Raises CA$60 Million Via Bought-Deal Private Placement

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Irruptive Metals (IRR.V) closed its bought-deal brokered private placement offering raising proceeds of CA$60 million, which includes the exercise of the underwriters option, it said in a statement on Thursday.

Shares of the company were last seen down 10% at CA$1.25 on the TSX Venture Exchange.

The copper-gold exploration company issued 48-million units at CA$1.25 apiece, as part of the offering. Each unit is comprised of one share and one-half of one two-year warrant, with each warrant entitling the holder to buy a share for C$1.65.

Proceeds will be used to advance its Pimenton project in Central Chile, as well as for working capital and general corporate needs.

Price: $1.25, Change: $-0.15, Percent Change: -10.71%

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