Northwire Canada EditionWednesday, November 11, 2026
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Financings

Belo Sun Announces Closing of Private Placement Financing

By The Northwire Desk — AI Analysis Feb 24, 2026 · 18:00 BSX · 1.2 Belo Sun Mining Corp.
BSX · Price

Executive Summary

  • Belo Sun Mining Corp. closed a non‑brokered private placement raising US$30 million (C$41.3 million).
  • 96,146,512 common shares were issued at C$0.43 per share; La Mancha Investments subscribed for 50,587,226 shares and became a Control Person.
  • Proceeds will be used for working capital, general corporate purposes, and commitments to local communities tied to the Volta Grande Gold Project.

Key Details

  • Gross proceeds: US$30 million (C$41.3 million).
  • Shares issued: 96,146,512 common shares at C$0.43 per share.
  • Investor participation: La Mancha Investments S.à r.l. subscribed for 50,587,226 shares, acquiring control‑person status under TSX rules.
  • Use of proceeds: Working capital, general corporate purposes, and existing community/stakeholder commitments related to the Volta Grande Project.
  • Statutory hold period: All issued shares are subject to a hold until June 25 2026.
  • Regulatory compliance: No securities were registered under the U.S. 1933 Act; offering not permitted in the United States absent exemption.
  • Control Person approval: Majority of disinterested shareholders approved creation of the new Control Person per TSX requirements.
  • Related party transaction: Transaction qualifies as a “related party transaction” under MI 61‑101; exemptions applied because fair market value is <25% of current market cap.

Notable Quotes

(No CEO/President quotes were included in the release.)

Read the original news release →

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Regulatory Jun 30, 2026 · 07:00

Belo Sun Provides Project Update

Production / Operations