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Yamana Gold to raise up to C$300M via 49M-share offering

  • Yamana Gold (NYSE:AUY) -5.1% AH after saying it plans to raise at least C$260M through the sale of 49.2M common shares at C$5.30 each, with an underwriters option to buy up to another about 7.4M shares, which could boost the amount raised to almost C$300M.
  • AUY plans to use the proceeds to reduce debt and bolster its balance sheet, among other purposes.

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