Offering funds exploration and development of company's gold assets
By Toni Weeks
San Diego, Aug. 21 - GoldQuest Mining Corp. said it has completed its brokered private placement of stock, raising C$15 million.
The company sold 12 million common shares at C$1.25 each on a bought-deal basis. Of the shares, 4 million comprised the fully exercised greenshoe. The price per share is an 8.76% discount to C$1.37, the July 30 closing share price.
The deal was conducted by a syndicate of underwriters led by Dundee Securities Ltd. and including Stifel Nicolaus Canada Inc., Clarus Securities Inc., GMP Securities LP and Raymond James Ltd.
Proceeds will be used for exploration and development of the company's gold assets in the Dominican Republic and for general corporate purposes.
Based in Toronto, GoldQuest is a gold exploration company.
| Issuer: | GoldQuest Mining Corp.
|
| Issue: | Common stock
|
| Amount: | C$15 million, including C$5 million greenshoe
|
| Shares: | 12 million
|
| Price: | C$1.25
|
| Warrants: | No
|
| Underwriters: | Dundee Securities Ltd. (lead), Stifel Nicolaus Canada Inc., Clarus Securities Inc., GMP Securities LP and Raymond James Ltd.
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 21
|
| Stock symbol: | TSX Venture: GQC
|
| Stock price: | C$1.37 at close July 30
|
| Market capitalization: | C$243.15 million
|
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