MBAC Fertilizer Corp. (TSX:MBC, OTCQX:MBCFF) announced that it has completed a bought deal private placement worth approximately $51.7 million.

As quoted in the press release:

The net proceeds of the Offering are intended to be used by the Company for the completion of the Itafós Project, for working capital and general and administrative purposes. The Offered Shares will be subject to a four month hold period under applicable Canadian securities legislation.

To view the whole press release, click here.