By Adriano Marchese
Uranium Royalty shares were lower Friday morning after the company said it plans to raise $22.9 million by way of a bought deal financing agreement.
At 9:34 a.m. ET, shares were trading 4.6% lower in Toronto at 4.54 Canadian dollars ($3.39).
The company said that it has entered into an agreement with a syndicate of underwriters in which they have agreed to purchase on a bought-deal basis 6.7 million common shares at a price of $3.40 a share.
Uranium Royalty intends to use the proceeds to fund future royalty acquisitions and purchases of physical uranium.
Write to Adriano Marchese at [email protected]
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