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Altius raises C$40M for copper purchase deal with Yamana Gold

Altius MineralsCorp. said May 3 that it has closed its previously announced bought-deal financing, raising a totalof C$40 million, including the full exercise of the underwriters' overallotmentoption.

The miner issued a total of 3,578,800 common shares at C$11.25apiece under the financing, which includes 466,800 overallotment common shares.

The offering was led by TD Securities Inc. and Scotia CapitalInc. and included Raymond James Ltd, BMO Nesbitt Burns Inc. and Haywood SecuritiesInc.

Altius plans to use the proceeds of the base offering to partiallyfund its US$61 millioncopper purchase agreement with YamanaGold Inc., while the funds raised from the overallotment option willbe used for general working capital.