Romarco Minerals (TSX:R) has arranged a non-brokered private placement financing to raise gross proceeds of C$32,385,350. The placement is expected to close on December 18.

As quoted in the press release:

The Private Placement is being executed with several of the Company’s largest shareholders including funds under management by BlackRock Investment Management (UK) Limited, Franklin Templeton Investments, and Colonial First State. A total of 10 institutional investors will purchase approximately C$32.2 million of the Offered Shares with insiders subscribing for the balance.

Romarco president and CEO, Diane Garrett, said:

We are very pleased some of our largest and longstanding shareholders have once again demonstrated their support and confidence in the Haile Gold Mine – a high grade, low cost, world class asset located in South Carolina, USA. The timing for this support ensures we have sufficient funds to defend our permits, if necessary, and fulfil our near-term contractual obligations.

Click here to read the Romarco Minerals (TSX:R) press release

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