Perpetua Resources announces $70M common shares offering

Perpetua Resources (PPTA) Corp. announced the launch of a $70M public offering of common shares, no par value, of the company in the United States. Pursuant to the Investor Rights Agreement, dated as of October 28, between the company and Agnico Eagle Mines Limited, Agnico has indicated that it intends to exercise its pro rata participation right with respect to the offering in a concurrent private placement at the public offering price of the offering. The company expects to use the net proceeds of the offering and the concurrent private placement to fund the construction and development of the Stibnite Gold Project, working capital costs in excess of the project capital costs, continuing exploration and development activities, restoration and reclamation work, and for general corporate purposes. The common shares will be offered by the company with BMO Capital Markets, National Bank of Canada Capital Markets and RBC Capital Markets acting as joint book-running managers.