Announced financings: Feb. 21, 2024

Here's your roundup of yesterday's announced financings, courtesy of PrivatePlacements.com, the only platform that posts every Canadian financing, every day.

1. First Quantum Minerals Ltd. (TSX: FM)

• Gross Proceeds: US$1 billion (bought deal)
• Sector: Copper
• Units issued: 1221.68 million
• Type: Common shares
• Price: $11.10
• Warrants: None
• Agents: RBC Capital Markets
• Use of Proceeds: Debt repayment

Company breakdown:

• Global copper producer—latest and flagship mine is the Cobre Panama mine with a production target of 300,000 tonnes of copper annually, though the Panamanian government ruled its controversial 20-year operating contract unconstitutional
• Recently received a US$500 million injection from Jiangxi Copper after Cobre was forced to stop production last year
• Shares fell by more than half following its Panama woes

2. Vizsla Silver Corp. (TSX-V: VZLA)

• Gross Proceeds: $30 million (bought deal)
• Sector: Precious metals
• Units issued: 20 million
• Type: Common shares
• Price: $1.50
• Warrants: None
• Agents: PI Financial Corp.
• Use of Proceeds: Ongoing exploration

Company breakdown:

• Mid-stage silver junior focused on the Panuco silver-gold project in Mexico
• Has completed 350,000 metres of drilling at the project
• Recently filed a NI 43-101 report for Panuco
• Planning a royalty spinout

3. CE Brands Inc. (TSX-V: CEBI)

• Gross Proceeds: $5 million
• Sector: Consumer electronics
• Units issued: 25 million
• Type: Common shares
• Price: $0.20
• Warrants: None
• Agents: Non-brokered
• Use of Proceeds: Product launch

Company breakdown:

• "Designs, manufactures, and sells ecosystem of connected health devices, including wearables, biomarker tests, and world class health analytics software"
• Financing will be used to launch its Vitalist smart watches
• Lost $1.14 million in Q3 2024