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O3 Mining upsizes bought deal to C$35M

Canadian gold explorer O3 Mining has increased the size of a bought deal financing it opened earlier in the week from C$30 million to $35 million.
O3 Mining upsizes bought deal to C$35M O3 Mining upsizes bought deal to C$35M O3 Mining upsizes bought deal to C$35M O3 Mining upsizes bought deal to C$35M O3 Mining upsizes bought deal to C$35M

Drilling at East Cadillac in Quebec

Staff reporter

The underwriters will now purchase 4.7 million flow-through units priced at $4.30 and 6.4 million units priced $2.35.

Each unit will comprise a share and half a two-year warrant priced at $3.25.

Proceeds will be used for exploration of the company's projects in the Val d'Or region of Quebec.

O3 is working on a preliminary economic assessment for its Marban project while expanding the mineral resources at Alpha via a 25,000m drill programme and at the East Cadillac property via a 15,000m programme.

Shares in O3 Mining are trading at $2.52, valuing the company at $119 million.