Selkirk Copper Upsizes Bought Deal Financing to $30 Million for Minto Mine Development

Venerable Ventures ( (TSE:SCMI) ) has provided an announcement.

Selkirk Copper Mines has increased its previously announced bought deal private placement to roughly $30 million following strong investor demand, selling a mix of flow-through and common shares through a syndicate led by Canaccord Genuity. The deal structure includes an additional underwriters’ option and standard commissions, with securities to be issued via exempt private placement in Canada, the U.S. and select other jurisdictions, subject to regulatory approvals and a statutory hold period.

Proceeds from the financing will be used primarily to advance development of the Minto Mine and for working capital and general corporate purposes, underscoring Selkirk Copper’s commitment to expanding its critical mineral production capacity. The company has committed to incur and renounce qualifying Canadian exploration expenses tied to the flow-through component, offering tax benefits to investors while reinforcing its exploration spending obligations in the Canadian critical minerals space.

More about Venerable Ventures

Selkirk Copper Mines Inc. is a Canadian mining company focused on the development of the Minto Mine in the Yukon, with its shares listed on the TSX Venture Exchange, Frankfurt and OTCQB markets. The company operates in the copper and critical minerals sector, targeting investors through equity and flow-through share offerings to fund exploration and mine development activities.

Average Trading Volume: 690,319

Technical Sentiment Signal: Buy

Current Market Cap: C$135.2M

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