Second Tranche for Gross Proceeds of $54M Expected to Close Following Special Shareholders Meeting
All amounts are in Canadian dollars unless stated otherwise
VANCOUVER, BC, May 28, 2025 /CNW/ – Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) (“Foran” or the “Company”) is pleased to announce that it has completed the first tranche of its previously announced $350 million private placement financing (the “Offering”), for aggregate gross proceeds of approximately $296 million (the “First Tranche Offering”).
The First Tranche Offering involved the issuance of a total of 98,502,909 common shares of the Company (the “Common Shares”) at an issue price of $3.00 per Common Share, for gross proceeds of $295,508,727. The net proceeds from the Offering will be used to complete construction at McIlvenna Bay, as well as for advancing exploration at near-mine and regional targets. The First Tranche Offering remains subject to the final…
