International Royalty Corp. said Monday a syndicate of underwriters is buying 10 million shares of its common stock.
The Englewood company (AMEX: ROY, TSX: IRC) said the purchase will bring in proceeds of $64.5 million.
The underwriters also will have an option to buy another 1.5 million shares until the closing date, which is Nov. 5.
International Royalty said the proceeds will be used for general corporate purposes.
The company has a royalty stake in various mineral projects, including a gold mine in Australia.
credited by: bizjournals.com
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