Nova Royalty Corp (CVE:NOVR) has closed a C$14.4 million financing designed to fund new royalty acquisitions.
The Vancouver-based team issued 9,947,500 shares at a price of $1.45 per share for aggregate gross proceeds of $14,423,875, including the full exercise of the overallotment option by lead agents PI Financial and Cantor Fitzgerald acting on behalf of a syndicate of agents.
Additional funds raised will go towards working capital and general corporate purposes, according to a statement.
PI Financial and Cantor Fitzgerald were supported by Cormark Securities, Haywood Securities, and CIBC World Markets.
Nova holds royalties on a group of properties in the Americas, including the recently acquired 2.4% royalty on Antofagasta’s Twin Metals project in the prolific Duluth Mining Complex of Minnesota.
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