Mako Mining Closes C$55.25 Million Financing

Mako Mining Corp. has completed its previously announced financing, raising a total of C$55.25 million through a bought deal private placement and a concurrent non-brokered private placement. The bought deal, led by Stifel Canada and Cantor Fitzgerald Canada Corporation, involved issuing 5,031,250 common shares for C$40.25 million. Concurrently, Mako issued 1,875,000 shares to Wexford Capital LP, raising an additional C$15 million.

The proceeds will be allocated to ramping up operations at the Moss Mine, constructing development assets, and general working capital. The shares are listed on the TSX Venture Exchange. Wexford's participation qualifies as a "related party transaction," but exemptions were applied to facilitate the process.

With the completion of these offerings, Mako aims to strengthen its mining operations and financial standing.