Deal has C$3.04 million greenshoe, finances development of new rigs
By Devika Patel
Knoxville, Tenn., March 5 - Energold Drilling Corp. said it will conduct a C$20.28 million private placement of stock. The deal has a C$3.04 million greenshoe.
The company will sell 3.9 million common shares at C$5.20 per share. The price per share reflects a 5.78% discount to the March 2 closing share price of C$5.58.
The offering is being conducted on a bought-deal basis by a syndicate of underwriters led by TD Securities Inc.
Settlement is expected March 21.
Proceeds will be used to construct and develop new rigs and for working capital purposes.
The diamond drilling contractor is based in Vancouver, B.C.
| Issuer: | Energold Drilling Corp.
|
| Issue: | Common shares
|
| Amount: | C$20.28 million
|
| Greenshoe: | C$3,042,000
|
| Shares: | 3.9 million
|
| Price: | C$5.20
|
| Warrants: | No
|
| Agents: | TD Securities Inc. (lead)
|
| Pricing date: | March 5
|
| Settlement date: | March 21
|
| Stock symbol: | TSX Venture: EGD
|
| Stock price: | C$5.58 at close March 2
|
| Market capitalization: | C$236.08 million
|
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