Horizonte Minerals PLC (LON:HZM, TSX:HZM) has completed a bought deal private placement of special warrants in Canada, raising gross proceeds of US$9.2mln (£6.6mln).
It issued 88 mln special warrants at 7.5 pence per share (C$0.133) per special warrant, the company said late yesterday.
The offering was led by Paradigm Capital Inc, as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters including Cormark Securities Inc.
Net proceeds, alongside the £12.2mln raised in a UK placing announced last month, will be put towards the start of construction of Horizonte's Araguaia nickel project in Brazil.