Filo Announces Closing of C$115 Million Private Placement

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[{"type":"text","content":"\n\n\n\n Filo Announces Closing of C$115 Million Private Placement\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n /\n \n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Aug. 7, 2024\n \n\n /CNW/ -\n \n Filo Corp.\n \n (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) (\"\n \n Filo\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has closed its previously announced private placement of 3,484,848 common shares in the capital of the Company (the \"\n \n Filo Shares\n \n \") issued at a price of\n \n C$33.00\n \n per share for gross proceeds of\n \n C$114,999,984.00\n \n (the \"\n \n Private Placement\n \n \"). The Private Placement was made pursuant to subscription agreements entered into between Filo and each of BHP (\"\n \n BHP\n \n \") and Lundin Mining Corporation (TSX: LUN) (Nasdaq Stockholm: LUMI) (\"\n \n Lundin\n \n\n Mining\n \n \", and together with BHP, the \"\n \n Purchaser Parties\n \n \"). Upon completion of the Private Placement, each of BHP's and Lundin's equity interest in the Company has increased by approximately 1.3%, resulting in each of them now owning, directly or indirectly, approximately 7.1% and 1.7%, respectively, and the Company now has 134,685,648 Filo Shares issued and outstanding. The Private Placement entails a dilution of approximately 2.6% of the number of shares and votes in the Company (calculated as the number of newly issued Filo Shares divided by the total number of Filo Shares after the Private Placement).\n \n PDF Version\n \n\n\n The Private Placement was previously announced concurrently with Filo announcing that it had entered into a binding arrangement agreement with the Purchaser Parties whereby the Purchaser Parties will acquire all of the outstanding Filo Shares that they do not already own (the \"\n \n Transaction\n \n \").\n ...

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