09:54 AM EST, 03/04/2020 (MT Newswires) -- Premier Gold Mines (PG.TO) were down 1.4% after the company on Wednesday said it raised C$38 million in a public share offering and closed a US$15.5 million financing through a gold prepay credit agreement with Orion Mine Finance Fund II.
The company said it sold 25.34 million shares priced at C$1.50 to an underwriting syndicate led by CIBC Capital Markets and Sprott Capital Partners in the offering.
Proceeds from the offering will be used to fund working capital for Premier's Mercedes and South Arturo mines and to advance its McCoy-Cove project in Nevada.
Premier also closed the US$15.5 million financing with Orion Mine Finance Fund II announced last month.
The company's shares were last seen down C$0.02 to C$1.42 on the Toronto Stock Exchange.
Price: 1.44, Change: +0.11, Percent Change: +8.27
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