Trading of the company's shares has been halted since June 16, 2011. At that time, the company was pursuing a reactivation though an earn-in arrangement with a Saskatchewan mineral resource exploration property owned by Nightstar Resources.
The company announced that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets to purchase 6,580,000 common shares and 2,613,000 flow-through shares for gross proceeds of $58.5 million.