Deal conducted by lead agent Industrial Alliance, Canaccord and Sprott
By Devika Patel
Knoxville, Tenn., Oct. 12 - Gold Mountain Mining Corp. said it plans a C$6 million private placement of stock. The deal will be conducted on a best-efforts basis via lead agent Industrial Alliance Securities. The syndicate of agents, which also includes Canaccord Genuity Corp. and Sprott Private Wealth LP, has a 15% greenshoe.
The company will sell flow-through shares at C$1.15 per share. The per-share price is a 21.05% premium to C$0.95, the Oct. 11 closing share price.
Proceeds will be used for exploration programs on the Elk property.
Gold Mountain is a Vancouver, B.C., gold exploration company.
| Issuer: | Gold Mountain Mining Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$6 million
|
| Greenshoe: | 15%
|
| Price: | C$1.15
|
| Warrants: | No
|
| Agents: | Industrial Alliance Securities (lead), Byron Securities Ltd.
|
| Pricing date: | Oct. 12
|
| Stock symbol: | TSX Venture: GUM
|
| Stock price: | C$0.95 at close Sept. 7
|
| Market capitalization: | C$54.67 million
|
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