Vancouver-headquartered Artemis Gold is raising C$175-million to fund its acquisition of the Blackwater gold project, in British Columbia, from New Gold.
The transaction, announced last week, entails a C$140-million initial payment and C$50-million 12 months later.
Artemis has entered into an agreement with a syndicate of underwriters coled by Canaccord Genuity and BMO Capital Markets in connection with a bought deal private placement financing of an aggregate of 38 900 000 subscription receipts of the company.