Deal has C$5 million greenshoe; funds used to explore Committee Bay Project
By Devika Patel
Knoxville, Tenn., Feb. 15 - North Country Gold Corp. said it plans a private placement of stock. The company will take in C$20.09 million.
North Country will sell 3.72 million common shares at C$1.35 apiece, an 8.16% discount to the Feb. 14 closing share price of C$1.47. It also will sell 9.3 million flow-through common shares at C$1.62 apiece, a 10.2% premium to the Feb. 14 closing share price.
The deal will be conducted on a bought-deal basis by a syndicate of underwriters led by Canaccord Genuity Corp. and including RBC Capital Markets and Byron Capital Markets. The agents have a C$5 million greenshoe.
Settlement is expected March 9.
Proceeds will be used for exploration of the company's Committee Bay Project in Nunavut and working capital.
The Edmonton, Alta.-based issuer explores for gold.
| Issuer: | North Country Gold Corp.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$20,088,000
|
| Greenshoe: | C$5 million
|
| Warrants: | No
|
| Agents: | Canaccord Genuity Corp. (lead), RBC Capital Markets and Byron Capital Markets
|
| Pricing date: | Feb. 15
|
| Settlement date: | March 9
|
| Stock symbol: | TSX Venture: NCG
|
| Stock price: | C$1.47 at close Feb. 14
|
| Market capitalization: | C$117.41 million
|
|
|
| Common stock
|
| Amount: | C$5,022,000
|
| Shares: | 3.72 million
|
| Price: | C$1.35
|
|
|
| Flow-through stock
|
| Amount: | C$15,066,000
|
| Shares: | 9.3 million
|
| Price: | C$1.62
|
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