Meridian Mining Expands Offering to Fund Cabaçal Project

Meridian Mining Se (TSE:MNO) has released an update.

Meridian Mining UK S has increased the size of its public offering to $17.5 million, with the sale of 50 million shares at $0.35 each, facilitated by Beacon Securities Limited and BMO Capital Markets as Co-Lead Underwriters. The company is also offering an over-allotment option for an additional 15% of shares post-closing, which will take place around April 9, 2024. The proceeds are intended to support the Cabaçal project, specifically for a pre-feasibility study, resource delineation drilling, and further exploration.

For further insights into TSE:MNO stock, check out TipRanks’ Stock Analysis page.