Snowline Gold Corp. has entered into a binding agreement with a syndicate of underwriters led by BMO Capital Markets to raise gross proceeds of approximately C$150 million through a bought deal financing. Under the terms of the arrangement, the company will issue 10,350,000 common shares at a price of C$14.50 per share.

The financing remains subject to customary regulatory approvals, including those from the Toronto Stock Exchange. The transaction is currently scheduled to close on or about August 12, 2026. As part of the agreement, the company has granted the underwriters an option to purchase up to an additional 15% of the offering to cover any over-allotments. This option is exercisable at the offering price for a period of 30 days following the closing date.

Shares in the company rose 5.40% on the day of the announcement, closing at $15.42.

The net proceeds from the capital raise are designated to support the advancement of the company’s Yukon-based mineral projects. The company also intends to allocate a portion of the funds toward working capital and general corporate requirements.

“The net proceeds of the offering will be used to advance the Company’s projects in the Yukon Territory, as well as for working capital and general corporate purposes.”

— Scott Berdahl, CEO & Director

Snowline intends to complete the offering via a prospectus supplement filed under its existing short-form base shelf prospectus. The offering is being made in Canada, excluding Québec, and will be available in the United States on a private placement basis to eligible investors under exemptions from U.S. registration requirements.

Investors may access the base shelf prospectus and the forthcoming prospectus supplement through the SEDAR+ system. Paper or electronic copies of these regulatory documents are also available through BMO Nesbitt Burns Inc. The company has clarified that the press release announcing the financing does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction where such an action would be unlawful.

Read the full announcement: Snowline Gold Announces C$150 Million Bought Deal Financing