Montreal-based Cambiex Exploration has closed its initial public offering of 5,000 units at $1,000 per unit. Each unit consists of 800 flow-through common shares and 200 common shares at $1 per share. The offering was placed entirely in Quebec.
The shares are expected to begin trading on the Montreal Exchange in early June.
Once all of the shares in the units are issued, Cambior (TSE) will own about 40.5% of the issued and outstanding common shares of Cambiex. Proceeds of the offering will fund exploration of the Dunraine, Dormex, Flavrian, Philibert, and Montbray properties in northwestern Quebec.
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