The underwriters will have a 30-day option to buy an extra 15% over-allotment under the same terms. The financing is expected to close around Aug. 1, 2024, pending regulatory approval.
Rupert Resources will also conduct a concurrent private placement, offering approximately 3.3 million common shares at the same price and terms as the public offering. It previously had arranged to sell 2.6 million shares under this placement.
The funds from these offerings will support ongoing exploration activities, technical and environmental studies in Finland, and general corporate needs, as detailed in the short form prospectus.
The company’s main project is the Ikkari gold discovery in northern Finland, which is part of the larger Rupert Lapland project. This project also includes the Pahtavaara gold mine, mill and exploration permits.
