By Laura Lutz
Des Moines, Oct. 16 - International Wayside Gold Mines Ltd. priced a private placement for up to C$10.5 million.
The company plans to sell up to 12 million flow-through shares at C$0.25 each, for proceeds of C$3 million. The underwriters have a greenshoe for up to 8 million flow-though shares, for an additional C$2 million.
The company also intends to sell a maximum of C$7.5 million and a minimum of C$3.5 million of non flow-through shares.
Octagon Capital Corp. will act as agent for the deal.
Proceeds from the flow-through shares will be used for exploration on the company's Cariboo gold project.
Proceeds from the non flow-through shares will be used for a final payment to Mosquito Consolidated Gold Mines Ltd. under the company's option agreement, for payment of its Lions Gate Energy Inc. property acquisition, for payment of its reclamation bonds for the bulk sample and mine permit and for general working capital.
Wayside is a Vancouver, B.C.-based gold mining company.
| Issuer: | International Wayside Gold Mines Ltd.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$10.5 million (maximum)
|
| Agent: | Octagon Capital Corp.
|
| Pricing date: | Oct. 16
|
| Stock symbol: | TSX Venture: WGM
|
| Stock price: | C$0.25 at close Oct. 13
|
|
|
| Flow-through shares
|
| Amount: | C$3 million
|
| Shares: | 12 million
|
| Greenshoe: | For 8 million shares
|
| Price: | C$0.25
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Amount: | C$7.5 million (maximum); C$3.5 million (minimum)
|
| Warrants: | No
|
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