Copper oxide specialist Arimetco International (TSE) has raised $24.9 million via a private placement of 5.2 million special warrants at $4.75 each. Acting as underwriters were Midland Walwyn Capital and ScotiaMcLeod both of Toronto.
Net proceeds are being held in escrow pending the issuance of a receipt for a final prospectus of Arimetco qualifying the common shares to be issued once the special warrants are exercised.
Proceeds are earmarked for the funding of current projects in the U.S. and for future acquisitions.
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