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Financings

Jaguar Mining closes $28-million bought deal

By The Northwire Desk — AI Analysis Oct 15, 2025 · 17:34 JAG · 7.38 Jaguar Mining Inc.
JAG · Price

Executive Summary

  • Jaguar Mining Inc. closed a bought‑deal private placement raising C$28.0 million (US$28,000,005) for the full exercise of the underwriters’ option.
  • Net proceeds will fund the restart of the Turmalina mine, exploration across its Brazilian portfolio, and general working capital.
  • The transaction included a related‑party purchase by Eric Sprott (≈ 48% ownership post‑closing) and issued 199,999 non‑transferable warrants exercisable at $5.89 per share through 15 Oct 2027.

Key Details

  • Shares sold: 5,090,910 common shares at $5.50 per share.
  • Gross proceeds: C$28,000,005 (US$28,000,005).
  • Lead underwriter: Red Cloud Securities Inc.; syndicate also included Research Capital Corp. and Ventum Financial Corp.
  • Underwriters’ compensation: Cash fees of $1,100,000.22 plus 199,999 broker warrants (each for one share at $5.89).
  • Related‑party transaction: Eric Sprott, via 2176423 Ontario Ltd., purchased 1,818,182 shares for $10,000,001, representing ~48% of outstanding shares after closing. These shares are subject to a statutory hold period until 16 Feb 2026.
  • Share count: Pre‑closing – 80,130,272 shares issued; post‑closing – 85,221,182 shares issued.
  • Use of proceeds:
  • Restart Turmalina mine (MTL complex)
  • Exploration activities across all properties
  • General working capital and corporate purposes
  • Warrant terms: Each warrant exercisable for one common share at $5.89 any time before 15 Oct 2027; subject to a hold period until 16 Feb 2026.
  • Regulatory: Closing pending final TSX approval; offering exempt under NI 45‑106 and MI 61‑101 (no minority shareholder approval required).

Notable Quotes

“We are proud to announce the successful closing of this private placement, which represents a strong vote of confidence from our investors… This capital infusion will be pivotal in accelerating the restart of our Turmalina mine and expanding exploration efforts across our highly prospective Brazilian portfolio.” – Luis Albano Tondo, CEO

“The successful completion of this offering underscores the financial community's confidence in Jaguar's strategy… The proceeds will be prudently allocated to high‑impact priorities, including the restart of our Turmalina mine and targeted exploration programs.” – Marina Freitas, CFO

Read the original news release →

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