VANCOUVER – Timmins Gold Corp. has entered into an agreement with RBC Capital Markets and a syndicate of underwriters for the sale of 16.67 million common shares of Timmins Gold at a price of $1.50 per share. If the overallotment – a further 2.5 million shares – is taken up, the deal could raise as much as $28.8 million.
The net proceeds of the offering will be used for general corporate purposes, including repayment of debt and working capital needs, said Timmins Gold.
The company operates the San Francisco gold mine in Sonora, Mexico, and has other gold and base metal exploration projects in that country. Learn more at TimminsGold.com.