Base metals developer Faraday Copper announced a non-brokered private placement to raise up to C$100-million, with participation from trusts associated with the Lundin family and a wholly owned subsidiary of BHP Group.
The Vancouver-headquartered company plans to issue up to 23.81-million common shares at C$4.20 a share.
The private placement is expected to close on March 11, subject to regulatory approvals, including approval from the TSX and customary closing conditions.