Foran Announces Strategic Investments All amounts are in Canadian dollars unless stated otherwise
VANCOUVER, British Columbia, July 15, 2024 (GLOBE NEWSWIRE) -- Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) (“Foran” or the “Company”) is pleased to announce a series of brokered and non-brokered strategic investments for up to $315 Million, consisting of a brokered equity private placement for which the Company has received indications of interest from several of its existing shareholders, including Fairfax Financial Holdings Limited (“Fairfax”), and an equity private placement by Agnico Eagle Mines Limited (“Agnico Eagle”). The Company is also announcing that a term sheet has been signed with a fund managed by Sprott Resource Lending Corp. (“Sprott”) to upsize its existing US$150 million senior secured project credit facility to US$250 million, which will be used to advance construction at the McIlvenna Bay Project.
Foran Announces Strategic Investments by Fairfax Financial, (globenewswire.com)