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Foran raises C$9.4M in oversubscribed placement to fund McIlvenna Bay

Foran Mining Corp. said July 5 that it raised about C$9.4 million in a previously announced share placement that intended to raise C$7 million.

A total of 6,276,500 flow-through shares at 66 cents each and 10,914,900 non-flow through shares at 48 cents apiece were issued.

Proceeds of the placement will be used to advance the Canada-listed zinc-copper explorer's McIlvenna Bay project in Saskatchewan, including the completion of a feasibility study.