Oban Mining Announces $10 Million Private Placement of Flow-Through Shares

Oban Mining (TSX:OBM) has signed an agreement with Dundee Securities for a bought deal private placement on a flow-through basis for total gross proceeds of approximately $10 million.
As quoted in the press release:

Oban Mining Corporation (TSX:OBM) (“Oban” or the “Company”) is pleased to announce that it has entered into an agreement with Dundee Securities Ltd. (the “Underwriter”) under which the Underwriter has agreed to purchase, on a “bought deal” private placement basis, 6,460,000 flow-through common shares of the Company (the “Flow- Through Shares”) at a price of $1.55 per Flow-Through Share for total gross proceeds of $10,013,000 (the “Offering”). The Underwriter has been granted the option to purchase up to an additional 15% of the number of Flow-Through Shares issuable under the Offering, exercisable in whole or in part at any time up to 48 hours prior to the closing of Offering.
The closing of the Offering is expected to occur on or about October 1, 2015 and is subject to the completion of formal documentation and receipt of regulatory approvals, including the approval of the Toronto Stock Exchange.

Click here for the full press release.