RCF-backed TMAC Resources ups IPO target to $135 mln
Canadian mineral exploration and development company TMAC Resources Inc has filed its final prospectus for an initial public offering (IPO) of its common shares. The revised prospectus shows an increase in the offering's target raise to about $135 million in gross proceeds, which is the result of "strong demand," the company said. An over-allotment option could give TMAC up to about $155.2 million. Net IPO proceeds will be used in part to advance the company's Hope Bay gold project to first production by the end of 2016. The project is located in the Kitikmeot region of Nunavut. TMAC is backed by U.S. private equity firm Resource Capital Funds (RCF) and other investors.
30 June 2015•4 mins read
