Borealis Mining (TSX-V:BOGO) has secured C$9.06 million ($9.89 million) from exercising warrants and options to shareholders, as the group seeks to resume full production at the Borealis Mine in Nevada.
The company has issued a total of 12.62 million shares through this offering.
Majority of the warrants, broker warrants, and compensation options were set to expire 14 September 2025.
CEO Kelly Malcolm says the company is pleased with the support returned from shareholders.
“The company is in a very strong financial position, which should provide us with all the required capital to resume full production at the Borealis mine site,” Malcolm says.
“I look forward to updating the market with our plans to start adding to the treasury through revenue from the steady production of gold from our fully built and permitted facility.”
Borealis describes its namesake project as fully permitted and equipped for current mining operations and ahead of potential expansion in the future.
The Borealis Project has historically produced more than 600,000 ounces of gold from the open-pit in heap-leaching operations.
Borealis Mining aims to be Nevada’s newest mid-tier mining company, growing by both the drill bit and potential acquisitions.
Write to Maddison Elliott at Mining.com.au
Images: Borealis Mining
