Foran Mining Corporation closes first and second tranche of C$360M private placement financings
Date Closed
September 17, 2024
Lead Office
Vancouver
Value
360.00 Million CAD
On August 8, 2024, Foran Mining Corporation ("Foran") closed the first tranche of its C$360 million private placement financing (the “Offering”) for gross proceeds of C$289 million. On September 17, 2024, following the receipt of requisite shareholder approvals in connection with the Offering, Foran closed the second tranche of the financing for additional gross proceeds of C$71 million. Upon the closing of both tranches, the full Offering has been completed.
The gross proceeds of the Offering will be used for exploration and development of Foran's mineral projects in Saskatchewan, as well as for working capital and general corporate purposes.
Foran, headquartered in Vancouver, British Columbia, is a mining company that engages in the acquisition, exploration and development of mineral properties, with a focus on copper, zinc, gold and silver deposits. Its material property is the McIlvenna Bay Project located in Saskatchewan.
McCarthy Tétrault advised Foran with a team led by Roger Taplin that included Nancy Choi, Claire Lehan, Ashley Wilson, Karsten Carriere, Trena Graff (Business), Mike Hegedus and Matthew Kraemer (Tax).