Vancouver-based Luna Gold Corp. (TSX:LGC) has reached a $20 million deal with syndicate of underwriters, the company announced February 3.
According to Luna Gold press release, the underwriters – led by Cormack Securities and Canaccord Genuity Corp. – have agreed to purchase 16,950,000 common shares for $1.18 apiece.
The $20 million will be used for general administrative uses.
The deal is scheduled to close on February 25.
Luna Gold wholly owns the subsidiary Mineração Aurizona S.A., which operates the Aurizona gold mine in Brazil. In 2013, Aurizona produced about 79,000 ounces of gold. The mine is currently undergoing an expansion that, once completed, will increase production to about 135,000 ounces of gold per year.
Luna Gold also has an exploration project, the Luna Greenfields, in northern Brazil.
