Extorre Gold Mines said it has closed a $25m private placement.
Under the terms of the agreement, Extorre issued 3.5 million common shares at $7.10 each.
The underwriter of the offering received a cash commission equal to five percent of the gross proceeds raised through the offering.
The net proceeds will be used for exploration and development of the company’s mineral projects in Argentina and for general working capital purposes, the company said.
Extorre is an emerging gold & silver producer in Argentina.
Cerro Moro is Extorre’s flagship gold-silver property located in mining friendly Santa Cruz Province.