Talamore Mining (TSX-V:TALA) has closed a C$149.5 million ($151.4 million) equity offering to fund initial construction activities at its Coffee Gold Project in Yukon, Canada.
The company issued 18.69 million common shares at C$8.00 per share through a brokered private placement led by Stifel Nicolaus Canada and BMO Capital Markets as co-lead agents and joint bookrunners.
The syndicate also included National Bank Financial, CIBC World Markets, Ventum Financial, and Desjardins Capital Markets.
Agents received a cash commission equal to 5% of gross proceeds, reduced to 2% for sales to purchasers on the president’s list. The common shares are subject to a statutory hold period in Canada expiring on November 22, 2026.
Net proceeds will fund initial construction activities and early works at the Coffee Project. Funding will also cover permitting and engineering, long-lead items, and general working capital.
Company insiders purchased 5.14 million common shares in the offering, representing a related party transaction under Multilateral Instrument 61-101.
TALA is exempt from formal valuation and minority shareholder approval requirements, as the fair market value does not exceed 25% of its market capitalisation.
The offering remains subject to final approval from the TSX and TSX-V.
The Coffee Gold Project is a 100%-owned, open-pit heap leach gold development in the final stages of permitting and engineering.
Talamore Mining is a Canadian gold developer advancing the Coffee Project in Yukon, with additional copper and gold assets in Chile and Mexico.
Write to JC Villarba at Mining.com.au
Images: Talamore Mining
