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Troilus Gold raising C$17M to advance namesake project in Quebec

Troilus Gold Corp. said May 14 that it plans to raise approximately C$17 million from a bought-deal offering and private placement to fund exploration work at its Troilus gold-copper project in Quebec.

The company signed an agreement with a syndicate of underwriters, co-led by GMP Securities LP and National Bank Financial Inc., to complete the offerings.

The bought-deal offering will consist of 4,070,000 flow-through shares of the company at C$2.46 apiece to raise C$10.0 million, while the private placement will comprise 3,850,000 flow-through shares at C$1.82 each to raise up to C$7.0 million.

Troilus intends to close the offerings by June 5.