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Cobalt 27 raises C$200M from upsized private placement

Cobalt 27 Capital Corp. raised gross proceeds of C$200.1 million after completing a private placement of common shares.

The Toronto-based minerals company issued 17,556,828 common shares priced at C$11.40 apiece. Net proceeds will be used to fund the acquisition of cobalt-related streams and royalties, and for general corporate purposes.

The offering initially aimed to raise gross proceeds of up to C$130 million. It was upsized to up to C$185 million days before the offering's completion.