Financing ·
Goldgroup closes US$122M equity raise and announces US$75M strategic investment in Luca Mining
GGAZDGoldgroup Mining Inc.
Goldgroup Mining closed a non-brokered private placement of 33,382,326 units at US$3.65 per unit for gross proceeds of approximately US$121.8 million. The company also entered into a binding commitment to invest US$75 million in Luca Mining Corp., which will result in an approximate 19.9% ownership stake following Luca's acquisition of the Cozamin Mine. Goldgroup intends to fund these activities from existing cash resources, including proceeds from the recent equity raise. Goldgroup Mining Inc. is a precious-metals producer with assets in Mexico and the United States.