trending Market Intelligence /marketintelligence/en/news-insights/trending/_s9WAW_N2f-r4gCpvySSDA2 content esgSubNav
In This List

Erdene upsizes bought-deal financing to C$12M

Blog

European Energy Insights - May 2021

Blog

Metals & Mining Insights May 2021

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


Erdene upsizes bought-deal financing to C$12M

Erdene Resource Development Corp. on Jan. 31 said it increased the size of its recently announced bought-deal financing to C$12 million from C$10 million previously.

Under the revised deal, the underwriters, led by Paradigm Capital Inc., have agreed to acquire the company's 15,584,415 common shares priced at 77 Canadian cents apiece.

The underwriters were also granted an overallotment option allowing them to purchase an additional 15% of the offering for a 48-hour period before the offering's closing.

The offer is expected to close by Feb. 23, subject to certain conditions, including approval from the Toronto Stock Exchange.

Erdene will use the proceeds for the development of its Bayan Khundii and Altan Nar gold projects in Mongolia.

Proceeds would also be earmarked for further exploration of other gold properties in southwest Mongolia and for working capital and general corporate purposes.