Credit: Marimaca Copper Corp.
Marimaca Copper (TSX: MARI) (ASX: MC2) has secured approximately A$80 million ($53 million) in funding commitment from investors outside of Canada for its projects in Chile’s Antofagasta region.
Under the brokered placement announced last week, Marimaca plans to sell approximately 8.25 million CHESS Depositary Interests (CDI) on the Australian market at A$9.70 per CDI.
New institutional investors as well as existing shareholders are expected to participate, with demand significantly exceeding the targeted quantum, the company said. The Vancouver-based copper developer currently has a diverse shareholder register that includes Greenstone, Assore International and Mitsubishi.
The CDI placement is expected to settle on Thursday, September 4, followed by allotment the next trading day.
Exploration funding
As detailed in its press release, the company intends to use the…
