Filo Corp. announced that it has received CAD 114.999984 million in funding from Lundin Mining Corporation, BHP Investments Canada Inc.

On August 7, 2024, Filo Corp. closed the transaction. Upon completion of the Private Placement, each of BHP?s and Lundin?s equity interest in the Company has increased by approximately 1.3%, resulting in each of them now owning, directly or indirectly, approximately 7.1% and 1.7%, respectively, and the Company now has 134,685,648 Shares issued and outstanding.

The Private Placement entails a dilution of approximately 2.6% of the number of shares and votes in the company. The Shares issued under the Private Placement to the Purchaser Parties will be subject to a hold period expiring on December 8, 2024. The Private Placement remains subject to the final approval of the Toronto Stock Exchange.