REalloys raises $100m through institutional placement
Nasdaq-listed rare earths company REalloys has entered into a securities purchase agreement with institutional investors for the purchase and sale of common stock for aggregate gross proceeds of $100-million, which will close on or about June 26.
The company will use the net proceeds from the offering for working capital and general corporate purposes.
REalloys is advancing a fully integrated North American mine-to-magnet supply chain encompassing upstream resource development, midstream processing and downstream manufacturing.
The company owns the Hoidas Lake project, in Saskatchewan and has a diversified network of allied feedstock and recycling partners.
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