Deals fund Commonwealth Silver and Gold Project, corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 25 – Marlin Gold Mining Ltd. said it settled a C$1.22 million brokered private placement of stock through underwriter Red Cloud Klondike Strike Inc. The company also raised C$300,000 in a non-brokered private placement.
The brokered placement priced for C$1 million with a C$2 million greenshoe, and the non-brokered deal priced for C$6.5 million on July 19.
Marlin sold 2.43 million common shares at C$0.50 each on a bought-deal basis in the brokered sale and 600,000 shares in the non-brokered offering. The price per share is a 16.67% discount to C$0.60, the July 18 closing share price. Of the brokered shares, 430,000 were part of the partially exercised greenshoe.
Proceeds will be used to advance the Commonwealth Silver and Gold Project and for general corporate purposes.
Marlin is a gold miner based in Vancouver, B.C.
| Issuer: | Marlin Gold Mining Ltd.
|
| Issue: | Common stock
|
| Amount: | C$1,515,000, including C$215,000 greenshoe of 430,000 shares
|
| Shares: | 3.03 million
|
| Price: | C$0.50
|
| Warrants: | No
|
| Underwriter: | Red Cloud Klondike Strike Inc. (for C$1,215,000), non-brokered (for C$300,000)
|
| Pricing date: | July 19
|
| Settlement date: | Aug. 25
|
| Stock symbol: | TSX Venture: MLN
|
| Stock price: | C$0.60 at close July 18
|
| Market capitalization: | C$65.84 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
