Canadian miner Sabina Gold and Silver has entered into an agreement with a group of underwriters led by BMO Capital Markets under which the underwriters have agreed to buy the company’s shares for a total of about C$110 million (US$87.5 mil-lion).
The miner said in a statement it has granted the underwriters an op-tion to purchase up to an additional 15% of its shares. This offering is expected to close on or about 30 March 2022 and is subject to the Canadian business receiving all necessary regulatory approvals.
Sabina Gold and Silver owns the Back River gold district in Nunavut, Canada. Most recently, the company filed an Updated Feasibility Study on its first mine on the district, the Goose Mine, which is to produce about 223,000 oz of gold per year for some 15 years.