OTCPK:KRCLF - Post by User
Post by
davgroon May 25, 2022 3:49pm
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Post# 34707244
Karora Resources Upsizes Financing to $60 Million
Karora Resources Upsizes Financing to $60 Million 03:34 PM EDT, 05/25/2022 (MT Newswires) -- Karora Resources Inc. (KRR.TO) has upsized its bought deal financing to $60 million (from $50 million).
The underwriters will now purchase, on a bought deal basis, 12.5 million common shares at $4.80 each for gross proceeds to Karora of $60 million. The underwriters have also been granted an over-
allotment option of up to 15%.
Net proceeds will be used to fund part of the cash consideration for the Lakewood Mill acquisition, advancing the company's nickel exploration and development program at Beta Hunt, and for working capital and general corporate purposes.
The offering is scheduled to close on or about June 15.