Canada’s Aya Gold & Silver Inc. has an-nounce it entered into an agreement with a syndicate of underwriters co-led by Desjardins Capital Markets and Sprott Capital Partners with Desjardins to secure gross proceeds of some C$70 million (US$55.3 million).
“The Corporation intends to use the net proceeds of the Offering for the expansion of its Zgounder mine, for advancement of its other properties and for general corporate purposes,” Aya Gold & Silver said in a statement. The latest offering “is expected to close on or about September 13, 2021.”
Aya Gold & Silver says it runs the Zgounder silver mine in Morocco, and is exploring its properties along the prospective South-Atlas Fault. Its Moroccan mining assets are complemented by the Tijirit gold project in Mauritania, according to data from the Canadian busi-ness.