Marengo Mining plans to raise up to Aus$12.5 million in North America.

The company has engaged Paradigm Capital to pitch the equity raising to North American and other international, institutional investors, and in addition to Australian investors.

Marengo Mining plans to list on the Toronto stock exchange later this year. Paradigm has been appointed as exclusive lead agent.

The capital raised will be used to advance work at Marengo's100%-owned Yandera copper-molybdenum project in Papua New Guinea and for general corporate purposes.