Dynacor Group's closing of upsized C$31.6M public offering

On February 6, 2025, Dynacor Group Inc. (“Dynacor”) closed its previously announced “best efforts” agency offering (the “Offering”) by way of prospectus supplement dated February 3, 2025 to the base shelf prospectus dated January 28, 2025. Pursuant to the Offering, Dynacor issued 5,750,000 common shares at a price of C$5.50 per common share for gross proceeds of C$31,625,000.

Canaccord Genuity Corp. (“Canaccord”) acted as sole agent in connection with the Offering.

Dynacor is a dividend-paying industrial gold ore processor headquartered in Montréal, Canada and is engaged in gold production through the processing of ore purchased from the ASM (artisanal and small-scale mining) industry. Dynacor intends to use the net proceeds of the Offering mainly for the construction of a new pilot processing plant and development of business in Sénégal, secondly for preparatory construction work on additional processing plants in Africa, other opportunities in Latin America, as well as for working capital and for general corporate purposes.

McCarthy Tétrault advised Canaccord with a team led by Hadrien Montagne and Vincent Laurin that included Samuil Stoychev and Karolina Kasparov (Business) and Marie-Soleil Landry and Geneviève Favreau (Tax).