Comstock Mining Prices Public Offering At $1.59 A Share

(RTTNews) - Comstock Mining Inc (LODE) said Friday it has priced its previously announced public offering of 6.5 million shares of common stock at a price of $1.59 per share. The offering is expected to close on May 14.

The company has also granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of common stock to cover over-allotments, if any.

The net proceeds to the company from the offering will be about $9.5 million, which it plans to use for production expansion, exploration and development drilling and general corporate purposes.