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Lumina Gold increases financing to C$20M from C$16M

Lumina Gold Corp. increased the size of its previously reported offering to C$20 million, comprising a C$10.8 million offering and a C$9.2 million private placement.

The company recently outlined plans to raise C$16 million, including a C$9.5 million offering and a C$6.5 million placement.

A portion of the funds will go toward drilling and various other programs including permitting and a resource update at its Cangrejos gold-copper project in Ecuador.

Lumina Gold said Nov. 8 that due to positive institutional and retail demand, it increased the offering to up to 19,320,000 common shares at 56 Canadian cents apiece, with the concurrent nonbrokered placement to now comprise up to 16,400,000 shares at the same price.

Closing is still anticipated around Nov. 27.