First Quantum Minerals Ltd. completed an equity offering of 121,680,000 common shares at CAD 11.10 per share, raising gross proceeds of approximately CAD 1.35 billion. The offering, led by RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., and Goldman Sachs Canada Inc., included additional participation from BNP Paribas (Canada) Securities Inc., ING Bank N.V., J.P. Morgan Securities Canada Inc., and others. The offering price was determined through arm's length negotiations with the underwriters, based on market conditions and other factors.

The net proceeds to the company, after deducting underwriters' fees of CAD 50.65 million and estimated expenses of CAD 2.7 million, amounted to approximately CAD 1.3 billion. First Quantum also granted the underwriters an over-allotment option to purchase up to an additional 18,252,000 common shares, which could increase the total proceeds to CAD 1.55 billion if fully exercised.

Legal matters related to the offering were advised by Blake, Cassels & Graydon LLP for First Quantum and by Stikeman Elliott LLP for the underwriters. The common shares are listed on the Toronto Stock Exchange under the symbol "FM," with the offering closing expected on or about February 29, 2024.