Magna Mining Secures $33.5 Million in Private Placement to Boost Sudbury Projects

Magna Mining ( (TSE:NICU) ) has shared an announcement.

Magna Mining Inc. has successfully closed a $33.5 million private placement, consisting of unsecured convertible debentures and common shares. The proceeds will be used to advance the company’s Sudbury projects and for general corporate purposes. The offering, which involved several financial agents, also saw participation from Dundee Corporation, which subscribed for $8 million in convertible debentures, reinforcing its stake in Magna Mining.

More about Magna Mining

Magna Mining Inc. operates in the mining industry, focusing on the exploration and development of nickel, copper, and platinum group metals projects. The company is primarily engaged in advancing its projects located in the Sudbury region of Ontario, Canada.

YTD Price Performance: 7.04%

Average Trading Volume: 294,196

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$235.8M

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