Karora Resources Inc. completed a public offering of 12,500,000 common shares at a price of CAD 4.80 per share, generating gross proceeds of $60 million. The offering was conducted through an underwriting agreement with Haywood Securities Inc. as the co-lead underwriter and sole bookrunner, alongside Cormark Securities Inc. and additional underwriters, including Canaccord Genuity Corp., Desjardins Securities Inc., Red Cloud Securities Inc., and Stifel Nicolaus Canada Inc. The underwriters received a 5% cash commission, amounting to CAD 3 million, bringing the net proceeds to Karora to approximately CAD 57 million before deducting estimated offering expenses of CAD 340,000.

The offering included an over-allotment option allowing underwriters to purchase up to an additional 1,875,000 common shares within 30 days, potentially increasing total proceeds to CAD 69 million. Legal matters for Karora were advised by Bennett Jones LLP, while Stikeman Elliott LLP represented the underwriters.

Karora's common shares are listed on the Toronto Stock Exchange under the symbol "KRR." The company secured conditional approval from the TSX to list the offered shares, contingent on meeting all TSX listing requirements. The closing of the offering was expected around June 15, 2022.

Investors were advised to review the associated risk factors and cautionary statements detailed in the prospectus.