$SCMI.V

Selkirk Copper Upsizes Private Placement of Shares to $30.0 Million

Selkirk Copper (SCMI.V) Friday said it upsized a bought-deal financing of shares by $10.0 million, to $30.0 million.The company will now sell underwriters 4.4-million tax-advantaged flow-through shares at $1.70 each, to raise $7.5 million, and 19.6-million common shares priced at $1.15 each, to raise $22.5 million. The underwriters have also been granted an over-allotment option of 4.35 million common shares, which, if fully exercised would yield additional proceeds of $5.0 million.Proceeds will be used to advance development of the Minto Mine in the Yukon.The offering is expected to close on April 30.Selkirk Copper shares were last seen down $0.04 to $1.31 on the TSX Venture Exchange.Price: $1.32, Change: $-0.03, Percent Change: -2.22%