Agent syndicate led by Stonecap fully exercises C$525,150 greenshoe
By Devika Patel
Knoxville, Tenn., March 1 - Marathon Gold Corp. said it has concluded a private placement of stock through a syndicate of agents led by Stonecap Securities Inc. and including Octagon Capital Corp. The deal priced for C$3.5 million on Feb. 4 and was increased to C$4.03 million with a C$525,150 greenshoe on Feb. 8. The company raised the full C$4.55 million on a bought deal basis.
The company sold 2,528,500 flow-through common shares at C$1.80 each. Of the shares, 291,750 were part of the fully exercised greenshoe. The price per share is a 9.09% premium to the C$1.65 closing price on Feb. 3.
Proceeds will be used will be used for exploration.
The gold resource development company is based in Toronto.
| Issuer: | Marathon Gold Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4,551,300 (including C$525,150 greenshoe)
|
| Shares: | 2,528,500
|
| Price: | C$1.80
|
| Warrants: | No
|
| Agents: | Stonecap Securities Inc. (lead) Octagon Capital Corp.
|
| Pricing date: | Feb. 4
|
| Upsized: | Feb. 8
|
| Settlement date: | March 1
|
| Stock symbol: | Toronto: MOZ
|
| Stock price: | C$1.65 at close Feb. 3
|
| Market capitalization: | C$33.64 million
|
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