Bear Creek Mining is raising C$30 million in a bought deal financing led by Stifel GMP. The net proceeds of the offering are expected to be used for ongoing development work at the company’s flagship Corani silver-lead-zinc project in southern Peru and for corporate purposes.

As part of the offering, the underwriters will purchase, on a bought deal basis, 10 million shares of the company at C$3 each, for aggregate proceeds of C$30 million. The underwriters also have the option to purchase up to an additional 1.5 million shares prior to the date that is 30 days after closing, for up to an additional C$4.5 million in gross proceeds.