TORONTO (miningweekly.com) – Resources royalty company Franco-Nevada Corp expects to raise at least $322-million in a bought-deal offering, and will use the proceeds for acquisitions, working capital and “general corporate purposes”, the firm said on Wednesday.

A syndicate of underwriters, coled by BMO Capital Markets, GMP Securities and CIBC World Markets will buy ten-million units, each comprising one Franco-Nevada share and one-half of a share-purchase warrant, on a bought-deal basis.

The units have been priced at C$32,20 apiece, and the underwriters have also been given an option to buy another 1,5-million units, which would increase the gross proceeds to C$370,3-million, if fully exercised.

The offering is expected to close on or about June 16.

Franco-Nevada owns a diverse portfolio of resource royalties and other interests, including in oil, gas, base-metals and precious metals, but the firm's focus is becoming increasingly fixed on gold, CEO David Harquail said last month.

Franco-Nevada shares rose 2,73% on Wednesday, to C$30,51 apiece by 16:10 in Toronto.

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