The company said financial losses at the mine threaten the viability of the rest of the Cooke operations, which include four mines and three processing plants.
It was one of the worst environmental disasters in Canadian history, and now, the company behind the 2014 Mount Polley mine tailings breach is looking to make somebody pay.
The Corporation intends to use the net proceeds of the Offering for engineering fees in relation to the Whabouchi Mine and concentrator and the Shawinigan hydromet plant, down-payments for long lead items, drilling and for general working capital purposes.