Non-brokered offering funds Commonwealth Silver and Gold acquisition
By Devika Patel
Knoxville, Tenn., April 17 – Marlin Gold Mining Ltd. said it will conduct a C$9.1 million non-brokered private placement of stock. The deal was announced on March 30.
The company will sell 16.25 million common shares at C$0.56 apiece, which is a 15.15% discount to the April 16 closing share price of C$0.66.
Wexford Spectrum Trading Ltd. and Wexford Catalyst Trading Ltd., private investment funds managed by Wexford Capital LP, will invest C$8.75 million.
Settlement is expected April 21.
Proceeds will be used for the acquisition of Commonwealth Silver and Gold Mining Inc. and general corporate purposes.
Marlin is a gold miner based in Vancouver, B.C.
| Issuer: | Marlin Gold Mining Ltd.
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| Issue: | Common shares
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| Amount: | C$9.1 million
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| Shares: | 16.25 million
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| Price: | C$0.56
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| Warrants: | No
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| Agent: | Non-brokered
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| Investors: | Wexford Capital LP (for C$8.75 million)
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| Announcement date: | March 30
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| Pricing date: | April 17
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| Settlement date: | April 21
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| Stock symbol: | TSX Venture: MLN
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| Stock price: | C$0.66 at close April 16
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| Market capitalization: | C$47.36 million
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