Announced financings: Feb. 21, 2024

February 22, 2024 01:22 PM PST

Here's your roundup of yesterday's announced financings, courtesy of, the only platform that posts every Canadian financing, every day.

1. First Quantum Minerals Ltd. (TSX: FM)

  • Gross Proceeds: US$1 billion (bought deal)
  • Sector: Copper
  • Units issued: 1221.68 million
  • Type: Common shares
  • Price: $11.10
  • Warrants: None
  • Agents: RBC Capital Markets
  • Use of Proceeds: Debt repayment

Company breakdown:

  • Global copper producer—latest and flagship mine is the Cobre Panama mine with a production target of 300,000 tonnes of copper annually, though the Panamanian government ruled its controversial 20-year operating contract unconstitutional
  • Recently received a US$500 million injection from Jiangxi Copper after Cobre was forced to stop production last year
  • Shares fell by more than half following its Panama woes

2. Vizsla Silver Corp. (TSX-V: VZLA)

  • Gross Proceeds: $30 million (bought deal)
  • Sector: Precious metals
  • Units issued: 20 million
  • Type: Common shares
  • Price: $1.50
  • Warrants: None
  • Agents: PI Financial Corp.
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Mid-stage silver junior focused on the Panuco silver-gold project in Mexico
  • Has completed 350,000 metres of drilling at the project
  • Recently filed a NI 43-101 report for Panuco
  • Planning a royalty spinout

3. CE Brands Inc. (TSX-V: CEBI)

  • Gross Proceeds: $5 million
  • Sector: Consumer electronics
  • Units issued: 25 million
  • Type: Common shares
  • Price: $0.20
  • Warrants: None
  • Agents: Non-brokered
  • Use of Proceeds: Product launch

Company breakdown:

  • "Designs, manufactures, and sells ecosystem of connected health devices, including wearables, biomarker tests, and world class health analytics software"
  • Financing will be used to launch its Vitalist smart watches
  • Lost $1.14 million in Q3 2024

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