Miata Metals Raises C$25.2 Million Via Bought Deal Offering
Miata Metals (MMET.V) closed its "bought deal" public offering of common shares, and concurrent strategic investment by a unit of La Mancha Resource Fund SCSp (La Mancha), for about C$25.2 million, it said on Tuesday.The offering consisted of the issuance of 28.0-million common shares at C$0.41 apiece for about C$11.5 million, inclusive of the full exercise of the underwriters' over-allotment option. La Mancha acquired 33.5-million common shares at C$0.41 for about C$13.7 million, concurrent with the closing of the offering.La Mancha now holds 19.9% of Miata's issued and outstanding common shares on a non-diluted basis, it said. Proceeds will be used to fund exploration and drilling at the Sela Creek Gold project in Suriname, technical studies and project development activities, and for general corporate and working capital needs.Shares of the company were last seen up 1.8% at C$0.58 on the TSX Venture Exchange.Price: $0.58, Change: $+0.01, Percent Change: +1.75%
