14 July 2021capital raising announcement▲ GoodMajor
Raised US$35 million by issuing 9,085,263 shares at C$4.75 to fund construction at Camino Rojo, work at Cerro Quema and studies on the Camino Rojo sulphide deposit. The buyers included Pierre Lassonde, Agnico Eagle and Trinity Capital Partners - money from established mining investors rather than a discounted market placement.
What it means for a shareholder
9.1m new shares at C$4.75 to raise about C$35.0m. That's 3.9% dilution: every existing holder's slice gets 3.9% smaller. If you held C$1,000 of shares (211 at the issue price), your slice goes from 0.0000943% to 0.0000906% of the company. To keep it you'd need 9 more shares - about C$43 at the issue price.
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