TD Securities is lead underwriter; funds will be used for exploration
By Devika Patel
Knoxville, Tenn., Nov. 19 – Lake Shore Gold Corp. said it will raise C$15.09 million in a private placement of shares through a syndicate of underwriters led by TD Securities Inc.
The company will sell 12.9 million flow-through common shares at C$1.17 apiece on a bought-deal basis. The price per share is an 8.33% premium to C$1.08, the closing share price on Nov. 18.
Settlement is expected Dec. 3.
Proceeds will be used for exploration.
Lake Shore is a gold producer based in Vancouver, B.C.
Issuer: | Lake Shore Gold Corp.
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Issue: | Flow-through common shares
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Amount: | C$15,093,000
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Shares: | 12.9 million
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Price: | C$1.17
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Warrants: | No
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Underwriter: | TD Securities Inc. (lead)
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Pricing date: | Nov. 19
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Settlement date: | Dec. 3
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Stock symbol: | Toronto: LSG
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Stock price: | C$1.08 at close Nov. 18
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Market capitalization: | C$437.57 million
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