TMAC Resources to raise $30 mln from RCF, Newmont

Canadian gold producer TMAC Resources Inc (TSX: TMR) has launched a private placement deal with U.S. mining private equity firm Resource Capital Funds (RCF) and Newmont Mining Corp. The deal, which will secure close to $30 million, will be accompanied by a public offering targeted to raise about $20 million. RCF and Newmont have the right to increase their investment relative to the results of the public offering's greenshoe option. Toronto-based TMAC said the funds raised will be used to advance its Hope Bay gold project in Nunavut and other priorites. TMAC was largely owned by RCF and Newmont when it went public in 2015.

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