Just before the Canada Day long weekend, a Toronto-based junior gemstone miner had celebratory news.
Fura Gems Inc. (TSX-Venture:FURA), a company with emerald dealings in Colombia and ruby assets in Mozambique, had financial-based announcements on Thursday.
Its non-brokered private placement offering of up to 121,500,000 common shares for gross proceeds of up to $30,375,000, announced in May, has been over-subscribed by Lord of Seven Hills Holdings FZE.
As well, Fura the Company has entered into an option agreement to acquire 100% interests in two mining permits and three mining licences for a sapphire mining project in Queensland, Australia.
Said CEO Dev Shetty, "We are pleased with the response to our capital raise and we believe that securing this funding will significantly accelerate our plans in Colombia and Mozambique and move the Company along the path to revenue generating mining operations."
Shares perked on the news early Thursday afternoon, gaining four cents, or 27.6%, to 18.5 cents, on volume of 281,000 shares.
