Home > Boards > Canadian > Mining/Resources > Calibre Mining Corp (TSX:CXB)

Calibre Mining closes C$102.5 million equity financing

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
ThSeeker Member Profile
Member Level 
Followed By 85
Posts 14,615
Boards Moderated 5
Alias Born 06/21/01
160x600 placeholder
ThSeeker Member Level  Thursday, 10/31/19 10:22:05 AM
Re: None
Post # of 53 

Calibre Mining closes C$102.5 million equity financing
Michael McCrae
Michael McCrae Wednesday September 18, 2019 15:13

Kitco News

Share this article:

Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

(Kitco News) -Nicaragua-focused exploration company Calibre Mining (CVE: CXB) announced yesterday that it closed a $77.2 million (C$102.5 million) brokered private placement.

The company said that $40 million proceeds will be used to fund a portion of the purchase price to acquire the producing El Limon and La Libertad Gold Mines; the Pavon Gold Project and additional concessions in Nicaragua.

As a result of the transaction, B2Gold will become the company's largest shareholder.

Russell Ball, Executive Chairman of Calibre, noted management's position in the financing.

"Despite a challenging equity financing environment, we were able to raise in excess of our targeted CDN $100 million and I wanted to express my thanks to those investors who participated in the financing for their support of the team and the assets, said Ball.

"We are excited about the opportunities that lie ahead, so much so that management and the board subscribed for approximately C$6.5 million of the private placement, firmly aligning the interests of management with those of our long-term shareholders, including B2Gold, who after the closing of the transaction will hold an approximate 31% equity interest in the company."
By Michael McCrae

For Kitco News

It is easy to figure out what you believe. The difficulty lies in determining - is what you believe the truth.
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist