C$3.04 million greenshoe not exercised; deal funds development of rigs
By Devika Patel
Knoxville, Tenn., March 21 - Energold Drilling Corp. said it settled a C$20.28 million private placement of stock. The deal priced with a C$3.04 million greenshoe on March 5.
The company sold 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 was conducted on a bought-deal basis by a syndicate of underwriters led by TD Securities Inc. and including Jennings Capital Inc. and Beacon Securities Ltd.
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
|
| Shares: | 3.9 million
|
| Price: | C$5.20
|
| Warrants: | No
|
| Agents: | TD Securities Inc. (lead), Jennings Capital Inc. and Beacon Securities Ltd.
|
| 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$219.59 million
|
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