Candelaria Mining CEO Mike Struthers joined Steve Darling from Proactive to share news the company has announced a capital raise a non-brokered private placement of 7.8 million dollars at a price of $0.45 per Unit.
Struthers telling Proactive the Company has received confirmations from certain investors of their intent to subscribe for 7.7 million, including $6.0 million from Agnico Eagle Mines Limited. That will bring Agnico Eagle stake in the company to 19.59% A great deal of the funds will be used for exploration and development at the Caballo Blanco Project.