Queenston Mining Inc., an active mining exploration firm in the Kirkland Lake camp, has announced a share offering to raise gross proceeds of $14 million.
Two million units will be offered, with Toronto-based Primary Capital Inc. acting as the lead agent on behalf of a syndicate of agents. Among other considerations, the syndicate will receive a cash commission equal to six per cent of the gross proceeds.
Proceeds from the financing will increase Queenston's working capital to $40 million, and allow the company to continue on high-level exploration projects through the Kirkland Lake camp.
The private placement is slated to close on or around Sept. 15.
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