Gold exploration company Romarco Minerals Inc. got $80.5 million in financing to develop a South Carolina mine, the Toronto-based company said Tuesday.
Underwriters led by National Bank Financial Inc. and BMO Capital Markets will buy, on a bought deal basis, 70 million common shares at an issue price of $1.15 per common share. They have the option to buy an additional 10.5 million shares.
Closing of the offering is set for Oct. 19.
The money will be used to develop the company's Haile Gold Mine in South Carolina. The mine holds an estimated 3.1 million ounces of gold.