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The latest update is out from Venerable Ventures ( (TSE:SCMI) ).
Selkirk Copper Mines has arranged a C$20 million bought-deal private placement with a syndicate led by Canaccord Genuity, issuing common shares and flow-through shares, with an option for underwriters to purchase additional common shares for up to C$5 million more. Net proceeds from the common shares will support continued development of the Minto Mine as well as working capital and general corporate purposes, with the flow-through component earmarked for qualifying Canadian exploration expenditures, underscoring the company’s capital-intensive growth plans and use of tax-advantaged financing within the Canadian mining sector.
More about Venerable Ventures
Selkirk Copper Mines Inc. is a Canadian mining company focused on developing the Minto Mine in the Yukon. Listed on the TSX Venture Exchange, Frankfurt and OTCQB, the company operates in the copper sector and targets investors through equity and flow-through share financings tied to Canadian exploration tax incentives.
Average Trading Volume: 686,681
Technical Sentiment Signal: Buy
Current Market Cap: C$119.1M
See more insights into SCMI stock on TipRanks’ Stock Analysis page.