09:02 AM EDT, 09/17/2024 (MT Newswires) -- Foran Mining Corporation ( FMCXF ) announced Tuesday that following the receipt of all requisite shareholder approvals at the special meeting of shareholders held on Monday, September 16, 2024, it has now completed the second tranche of its previously announced $360 million private placement financings, for aggregate gross proceeds of near $71 million. Upon closing of the Second Tranche Offering, the full financing of $360 million previously announced on July 17, 2024 is now complete, it said.

A statement notedtThe gross proceeds of the Second Tranche Offering will be used for exploration and development of the company's mineral projects in Saskatchewan, and for working capital and general corporate purposes.

The Second Tranche Offering remains subject to the final approval of the TSX. Following the completion of the Second Tranche Offering, Agnico Eagle holds a 9.9% interest in the company on a basic voting basis.