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Americas-focused Capstone Copper on Thursday announced a C$375-million bought deal to raise cash for its near-term growth initiatives in Chile.

Capstone and affiliates of Orion Mine Finance have entered into an agreement with a syndicate of underwriters, led by RBC Capital Markets, as lead bookrunner and including National Bank Financial and Scotiabank as joint bookrunners, on a deal to sell 59.52-million common shares at AC$6.30 each.

The underwriters have an option, exercisable in whole or in part up to 30 days after closing, to purchase an additional 8.92-million shares, raising the aggregate gross proceeds of the offering to C$431.23-million.

The offer would close on February 8