Magna Mining Corp. Completes $7 Million Private Placement Offering of Subscription ReceiptsFebruary 12, 2021
Magna Mining Corp. (“Magna”), a junior mining company primarily focused on the acquisition, exploration and development of polymetallic (Ni-Cu-PGM) deposits in the Sudbury region, completed a private placement offering of subscription receipts for aggregate gross proceeds of approximately $7 million on February 12, 2021 (the “Offering”). The Offering was completed in connection with Magna’s proposed reverse take-over transaction with CT Developers Ltd. (to be renamed “Magna Mining Inc.”) (the “RTO”).
Upon completion of the RTO, the subscription receipts will automatically convert into one common share and one-half of one warrant of Magna, which will then be immediately exchanged for common shares and common share purchase warrants of Magna Mining Inc.
Canaccord Genuity Corp. acted as lead agent in respect of the Offering together with a syndicate of agents that included Paradigm Capital Inc., Desjardins Securities Inc. and Eight Capital.
Wildeboer Dellelce LLP acted for the agents in connection with the Offering with a team comprised of Perry Dellelce, Sanjeev Patel, Joel Fraser and Brendan Wu (corporate/securities).
Visit website »