Canadian mineral exploration company Regulus Resources has announced that it has closed its previously announced common share private placement offering.
An aggregate of 10.8 million common shares was sold under the offering at a price of $0.85 per share for total gross proceeds of C$20.6 million ($16 million).
The gross proceeds of the offering include 240,197 shares issued as a result of the partial exercise of the agents' over-allotment option granted in connection with the offering.
Regulus Resources intends to use the net proceeds of the offering primarily for exploration on its AntaKori copper-gold-silver project in Peru and for general corporate purposes.