Gold company Monarch Mining has upsized its bought deal private placement to C$6-million, following strong demand for its previously announced financing of C$5-million.
Monarch, which owns four advanced projects in the Val-D’Or mining camp in Quebec, has amended an agreement with Sprott Capital Partners and Stifel GMP as colead underwriters and bookrunners to purchase 7.5-million units at C$0.80 each.
Each unit will consist of one common share and one-half of one common share purchase warrant.
Monarch said last week that it would reopen its Beaufor mine and Beacon mill by June 2022. The mine and mill are located about 20 km east of Vald’Or, Québec.
The company closed at C$0.85 a share on the TSX on Monday.