Baja Mining Announces C$160 M Bought Dealhttps://aceh.net/baja-mining-announces-c160-million-cross-border-bought-deal-financing/
Baja Mining Corp. has entered into an agreement with a syndicate of underwriters co-led by Raymond James Ltd. and Canaccord Genuity Corp. (collectively, the “Underwriters”) under which the Underwriters have agreed to purchase 145,500,000 common shares (the “Common Shares”) from the Company on a bought deal basis at a price of C$1.10 per Common Share for aggregate gross proceeds of approximately C$160,050,000 (the “Offering”).
The Company plans to use the net proceeds received from the sale of the Common Shares to fund the equity component for the construction of the Boleo Project in Mexico and for working capital and general corporate expenses. The Offering, once closed, will complete the total financing package for the development of the Boleo Project. The Offering is expected to close mid-November, and is subject to regulatory approval, including approval of the TSX.
Good News....we should see a nice jump today.