Business
Magna Mining Announces Brokered LIFE Offering of Common Shares for Gross Proceeds of up to $45 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Magna Mining Inc
[{"type":"text","content":"Magna Mining Announces Brokered LIFE Offering of Common Shares for Gross Proceeds of up to $45 Million\n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n SUDBURY, Ontario, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) (“Magna” or the “Company”)\n \n\n is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as lead agent and sole bookrunner on behalf of a syndicate of co-lead agents including Desjardins Securities Inc. and SCP Resource Finance LP (collectively, the “Agents”), in connection with a best efforts private placement offering of up to 18,750,000 common shares of the Company (the “Offered Shares”) at a price of $2.40 (the “Offering Price”) per Offered Share for aggregate gross proceeds of up to $45,000,000 (the “Offering”).  The Company has also granted to the Agents an option exercisable, in whole or in part, up to 48 hours prior to closing of the Offering, to sell up to an additional 2,083,300 Offered Shares at the Offering Price for additional gross proceeds of up to $4,999,920.\n \n\n The Offered Shares will be offered in each of the provinces and territories of Canada (other than Quebec) pursuant to the “listed issuer financing exemption” under Part 5A of National Instrument 45-106 –\n \n Prospectus Exemptions\n \n , as amended by Coordinated Blanket Order 45-935 -\n \n Exemptions from Certain Conditions of the Listed Issuer Financing Exemption\n \n (the \"LIFE Exemption\"). The Offered Shares may also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to exemptions from the registration requirements of the\n \n United States Securities Act of 1933\n \n , as amended (the “\n \n U.S. Securities Act\n \n ”) and in other qualifying jurisdictions outside of Canada and the United States that are mutually agreed to by the Company and the Agents on a private placement basis pursuant to relevant prospectus and registration exemptions in accordance with applicable laws.\n \n\n Subject to the satisfaction of certain conditions under applicable Canadian securities legislation, the sec...