The content has been shared, if you want to share this content with other users click here.
Vancouver's Panoro Minerals entered into an agreement with National Bank Financial as lead underwriter on behalf of a syndicate of underwriters which has agreed to purchase 12mn common shares at Cdn$0.42 each for gross proceeds of Cdn$5.04mn (US$4.7mn).
Panoro plans to use the net proceeds to fund the continued exploration and development of its Cotabambas copper-gold-silver project in Peru, as well as for working capital and general corporate purposes, said a press release.
The offering is expected to close on or about July 16.
Proceeds will be used for payment of costs of a study made by JDS Energy and Mining, existing payables and for general working capital. Catalyst focuses on copper mining projects in Mexico, including its La Verde property, in Michoacán state.
Vancouver's Corex Gold entered into a letter agreement with H. Morgan and Company to provide financing of up to Cdn$1.65mn and operational and management services to the company's Santana property in Mexico's Sonora state, a company release said.
The financing agreement is in two tranches. The first, for Cdn$400,000, will be advanced upon satisfactory completion of due diligence and agreement upon the final form of written agreements by Morgan. The second tranche of Cdn$1.25mn will be advanced following satisfactory completion of the initial work program.
Vancouver-based Miranda Gold announced that an agreement with Prism Resources is now effective and Prism issued Miranda 200,000 common shares and reimbursed US$90,000 that was paid by Miranda to the underlying leaseholder.
Miranda and Prism are developing a minimum Cdn$100,000 budget work program for the Cerro Oro gold project in Colombia, consisting of a combination of mapping, rock chip and soil sampling, trenching and geophysical survey, said the company in a statement.
Prism is obligated to fund exploration related expenditures of US$4mn to earn a 51% interest in the project, and through additional funding can earn an additional 19% for a total stake of 70%.