By Devika Patel
Knoxville, Tenn., March 16 - Novus Gold Corp. said it cancelled plans for a C$6.5 million private placement of shares and units and is replacing that deal, which priced Feb. 17, with a new offering of stock.
The company will sell 7.5 million flow-through common shares at C$0.40 each, generating up to C$3 million of proceeds.
Canaccord Financial Ltd., the agent, has a C$1 million greenshoe.
Proceeds will be used for exploration.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Novus Gold Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3 million
|
| Greenshoe: | C$1 million
|
| Shares: | 7.5 million
|
| Price: | C$0.40
|
| Warrants: | No
|
| Agent: | Canaccord Financial Ltd.
|
| Pricing date: | March 16
|
| Stock symbol: | TSX Venture: NOV
|
| Stock price: | C$0.35 at close March 15
|
| Market capitalization: | C$7.28 million
|
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