Adriano Marchese
E79 Resources Corp. said Tuesday that it secured 8 million Canadian dollars ($6.6 million) by way of private placement financing.
The Canadian gold exploration company said that the nonbrokered private placement financing was arranged at a price of C$1 a share, which includes a lead order of C$5 million from Canadian billionaire businessman Eric Sprott.
The rest of the C$3 million was arranged with a strategic investment fund, the company said.
“Once this financing closes, we will be in a robust financial position with over $12 million in cash,” Chief Executive Officer Rory Quinn said.
Write to Adriano Marchese at adriano.marchese@wsj.com
