Allied Nevada Gold Corp said it would raise about C$100.4 million ($92.45 million) by selling 11.2 million common shares to a syndicate of underwriters co-led by GMP Securities LP and Genuity Capital Markets.
The company will sell its shares at C$9 per share, a discount of 4 percent on Thursday close of C$9.38 on the Toronto Stock Exchange.
Allied Nevada plans to use the net proceeds from the offering, which is expected to close on or about Aug. 31, for exploration and general corporate purposes.
The underwriters include Cormark Securities Inc, Dundee Securities Corp and RBC Capital Markets.
($1=1.086 Canadian Dollar)
(Reporting by Sakshi A Mattoo in Bangalore; Editing by Ratul Ray Chaudhuri)