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Aggregate|Engineering|Exploration|PROJECT
aggregate|engineering|exploration|project

GoviEx to raise funds in private placement

21st April 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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Mineral resource company GoviEx Uranium has entered into an agreement with Eight

Capital and Sprott Capital Partners, as lead underwriters and joint bookrunners, in connection with a bought deal private placement financing of 68.6-million units

of the company for aggregate gross proceeds of about $12-million.

The company has granted the underwriters an option, exercisable in whole or in part up to 48 hours prior to the closing of the offering, to buy up to an additional 15% of the units at the issue price.

GoviEx intends to use the net proceeds of the offering for exploration, engineering and general corporate and working capital purposes.

The closing of the offering is expected to occur on or about May 11, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX-V.

GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela project, in Niger, and its mine-permitted Mutanga project, in Zambia. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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