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Filo Mining increases private placement to C$130 million

Kitco Media
By Vladimir Basov
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Updated
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(Kitco News) - Filo Mining (TSX: FIL) announced on Friday that due to strong demand it has elected to increase the previously announced non-brokered private placement to an aggregate of 6,161,138 common shares of the company at a price of C$21.10 per common share for gross proceeds of C$130 million.

On May 31, 2023, the company reported that it intends to sell on a non-brokered private placement basis, an aggregate of 4,739,337 common shares of the company at a price of C$21.10 per common share for gross proceeds of C$100 million.

In a press release, Filo Mining said that the company's largest shareholders, the Lundin Family Trusts and BHP, have indicated their intention to participate in the private placement.

The company noted that the net proceeds from the private placement will be used for exploration and development of the company's Filo del Sol project and for working capital and general corporate purposes.

Filo Mining is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in San Juan Province, Argentina and adjacent Region III, Chile.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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