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UraMin plans private placement for at least $200 million
By Sheri Kasprzak
New York, Feb. 23 - UraMin Inc. said it intends to raise at least $200 million in a private placement to help finance its Trekkopje project in Namibia to commercial production.
The terms of the offering have not yet been determined.
The company announced Friday that it needs $461 million to finance the project and that it currently has $88 million in cash committed to the project.
BMO Capital Markets is the lead agent for the offering.
The deal is expected to close March 20.
Based in Toronto, UraMin is a uranium exploration company.
On Friday, the company's stock gained 22 cents, or 3.91%, to close at C$5.84 (Toronto: UMN).
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