Mexican Gold Mine Secures Funds

Torex Gold, a Canadian based Mexican mine operator, has raised CAD350m ($343m) to support the development of the Morelos gold mine. In a bought deal managed by BMO, the miner placed 175m units – each consisting of one common share and one quarter of one common share purchase warrant – at CAD2.00 each. A 15% greenshoe is also possible. Each common share purchase warrant allows for the purchase of one common share at CAD2.65 for up to 12 months following the close. Proceeds will be used to fund the development of the Morelos mine, Torex’s sole asset, and for general corporate purposes.