Canada’s Sabina Gold and Silver has an-nounced that it has completed a bought deal offering worth more than C$126 million (US$101 million) with a syndicate of underwriters led by BMO Capital Markets.
"The Offering was fully subscribed and was comprised of 71,000,000 common shares of the Company at $1.55 per share. In conjunction, the underwriters exercised their over-allotment option to purchase up to an additional 15% or 10,650,000 Common Shares at $1.55 per share," the Vancouver-based miner said in a statement.
Sabina Gold and Silver owns the Back River gold district in Nunavut, Canada. Most recently, the company filed an Updated Feasibility Study on its first mine on the district, the Goose Mine, which is to produce about 223,000 oz of gold per year for some 15 years.