Snowline Gold (TSX:SGD) has entered an agreement with a syndicate of underwriters led by BMO Capital Markets to purchase 10.35 million common shares at C$14.50 ($14.66) per share in a C$150 million bought deal financing.
Underwriters receive a 30-day over-allotment option to purchase up to an additional 15% of the offering.
The offering expects to close on or about 12 August 2026, subject to regulatory approvals.
The company intends to use net proceeds to advance its Yukon Territory projects in Canada, working capital, and general corporate purposes.
Snowline operates its flagship Rogue Project, which hosts the Valley gold deposit containing a mineral resource estimate of 7.94 million ounces (Moz) gold (Au) at 1.21 grams per tonne Au in measured and indicated categories across 204 million tonnes (Mt).
The deposit includes an additional 0.89Moz Au inferred at 0.62g/t Au in 44.5Mt, using a 0.3g/t Au cut-off grade.
A preliminary economic assessment for Valley suggests potential for a long-life mining operation with a strong production profile and low production costs.
The company plans to complete the offering through a prospectus supplement to its short form base shelf prospectus dated 7 November 2025. The offering includes private placements in the US and other jurisdictions outside Canada.
Snowline Gold is a Canadian gold explorer focused on advancing its portfolio of projects in the Yukon Territory, including its flagship Rogue Project.
Write to Paula Fabe at Mining.com.au
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