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Financings

Troilus Gold arranges $150-million offering

By The Northwire Desk — AI Analysis Nov 05, 2025 · 19:22 TLG · 1.42 Troilus Mining Corp.
TLG · Price

Executive Summary

  • Troilus Gold Corp. announced a $150 million bought deal public offering of 116.28 million common shares at $1.29 per share.
  • The company has granted underwriters a 30-day option to purchase an additional 15% of shares to cover overallotments.
  • Net proceeds will be used for predevelopment activities at the Troilus copper-gold project, debt repayment, and general corporate purposes.

Key Details

  • Offering Size and Price: 116.28 million common shares at $1.29 per share.
  • Gross Proceeds: Approximately $150 million.
  • Underwriters: Desjardins Capital Markets, Cormark Securities Inc., and Haywood Securities Inc., acting as a syndicate.
  • Overallotment Option: Underwriters have an option to purchase up to an additional 15% of the offering (approx. 17.44 million shares) at the same price for a period of 30 days following closing.
  • Use of Proceeds: Financing continuing predevelopment activities at the Troilus copper-gold project, debt repayment, working capital, and general corporate purposes.
  • Closing Date: Scheduled for on or about November 14, 2025, subject to customary conditions including TSX approval.
  • Regulatory Filing: Completed via prospectus supplement to the short form base shelf prospectus dated April 30, 2025; supplement expected to be filed on or prior to November 7, 2025.
  • Project Financing Context:
    • Secured letters of interest totaling $1.3 billion (U.S.) from global export credit agencies.
    • Established a mandated $700 million (U.S.) debt financing led by international lenders and supported by European ECAs.
    • Agreed to indicative long-term offtake agreements with Aurubis AG and Boliden AB.
  • Project Status:
    • Permitting: Environmental and social impact assessment filed in June 2025 with Quebec and federal regulators.
    • Engineering: Basic engineering surpassed 85% completion, led by BBA Inc., targeting a 2026 construction decision.
    • Future Financing: Assessing potential streaming options and/or additional vendor-backed financing packages, targeting completion in early 2026. Final due diligence for debt financing targeting completion in early 2026.

Notable Quotes

  • None explicitly quoted in the provided text.
Read the original news release →

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