Nova Royalty Corp announced it is upsizing its previously announced public offering to C$12.7 million, up from $10 million originally.
The royalty company is raising funds to finance its recent acquisition of the existing 1% net smelter return royalty on the Aranzazu copper-gold-silver mine in Zacatecas, Mexico.
READ: Nova Royalty secures net smelter return royalty on Aranzazu copper mine; launches public offering
The deal will see Nova pay a total of $9 million, of which $8 million is in cash and $1 million in common shares.
The royalty covers copper, gold, and silver production at the mine that is wholly owned by Aura Minerals Inc. (TSX:ORA)
As per the term sheet, each share is priced at $3.30.
The offering will be led by PI Financial Corp as lead agent, and PI Financial Corp and Cantor Fitzgerald Canada Corporation will serve as co-bookrunners.
Headquartered in Vancouver, Nova is focused on providing investors with exposure to the key building blocks of clean energy – copper and nickel.
Contact Angela at angela@proactiveinvestors.com
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