Canadian gold miner secures additional funds

Photo: Troilus Gold

Increased funding Canadian miner Troilus Gold has declared that, in relation with is previously announced bought deal financing, the company and Cormark Securities Inc., on behalf of a syndicate of underwriters, have agreed to increase the size of the previously an-nounced financing for aggregate gross proceeds of about C$42.5 mil-lion (US$35 million).


“The net proceeds from the sale of the Units will be used for continued engineering efforts and feasibility level studies and for working capital and general corporate purposes,” the Canadian gold miner said in a statement.


The company is listed on the Toronto Stock Exchange (TSX). Troilus Gold says it is focused on the advancement and de-risking of the for-mer gold and copper Troilus mine towards production. Between 1996 and 2010, the mine produced more than 2 million oz of gold and nearly 70,000 tonnes of copper, according to data released by the business.