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Premier Gold cashes in for $57 million

Thunder Bay's Premier Gold has raised $57.5 million in a bought deal public offering of common shares. In a Feb.
Northern Ontario Business Staff

Thunder Bay's Premier Gold has raised $57.5 million in a bought deal public offering of common shares.

In a Feb. 27 release, the company said the net proceeds from the offering will be used to fund the junior miner's exploration and development activities in Nevada and northwestern Ontario, including Red Lake, Musselwhite and Geraldton.

“With the completion of the financing, the corporation now has approximately $90 million in working capital,” said Premier president Ewan Downie. “These funds are expected to meet all near and mid-term exploration and development plans as well as facilitating plans for continued corporate growth.”