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BHP Group To Invest C$100 Mln In Filo Mining

BHP Group Limited will invest C$100 million by way of a non-brokered private placement in Filo Mining Corp. (FIL.TO).

Filo Mining Corp. said it will issue an aggregate of 6.27 million common shares of the Company pursuant to the Private Placement at a price of C$15.95 per Common Share, representing a 12% premium to the 20-day volume weighted average trading price of the Common Shares on the Toronto Stock Exchange ending February 25, 2022.

Filo Mining plans to use the proceeds of the Private Placement for exploration and development of the company's Filo del Sol project and for working capital and general corporate purposes. The Private Placement is expected to close on or before March 11, 2022 and is subject to TSX, and other customary regulatory approvals.

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