Canada Lithium In $110M Bought Deal

Toronto-based specialty metals mining company,Canada Lithium, will raise $110 million from a bought deal financing agreement. The syndicate of underwriters includesScotia Capital,Macquarie Capital Markets Canada,Jacob Securities,Casimir Capital,Cormark Securitiesand邓迪Securities.

The underwriters will purchase 73.35 million common shares of Canada Lithium at $1.5 per share and have the option to buy another 11 million shares worth $16.5 million. The net proceeds are expected to be used to fund the construction of an open-pit mine and processing plant at its 100%-owned Quebec Lithium Project near Val d’Or.

Click here for the release fromMarket Wire.