EMED Mining's recent IPO in Canada was oversubscribed and has raised Canadian $2.4 million. The company is focused on exploring and developing resources of copper and gold.
The company completed the IPO in Toronto just before Christmas and a concurrent private placement in London.
The mining company has placed about 180,970,000 in Canada with a value of about 8.5 pence or Canadian $0.135. It had also granted it agents in Canada an over-allotment option of 18,145,500 shares all of which were used. The syndicate of agents led by Canaccord Genuity Corporation included GMP Securities L.P. and Paradigm Capital Inc.
They have raised Canadian $24.43 million overall. The company has interests in Europe and the Middle East. This included past mining centers with under explored potential for different types of mineralization. The company primarily focuses on volcanogenic-hosted massive sulphide copper-gold, epithermal gold and porphyry copper-gold. The main asset for EMED Mining is the Rio Tinto copper mine redevelopment project in the Andalucia region of Spain.
EMED Mining is listed on the AIM market (Code: EMED) of the London Stock Exchange and on the Toronto Stock Exchange (Code: EMD).