Underwriting syndicate brokers deal to fund Burkina Faso JV properties
By Devika Patel
Knoxville, Tenn., Oct. 28 - Roxgold Inc. said it will conduct an C$11 million private placement of stock.
The company will sell 10 million common shares at C$1.10 apiece on a bought-deal basis. The price per share reflects an 8.33% discount to the Oct. 27 closing share price of C$1.20.
The offering is being conducted through a syndicate of underwriters led by Cormark Securities Inc. and including GMP Securities LP, RBC Capital Markets Inc., Fraser Mackenzie Ltd., PI Financial Corp., Pope & Co. Ltd., Raymond James Ltd. and Toll Cross Securities Inc.
Settlement is expected Nov. 16.
Proceeds will be used for exploration of the company's Burkina Faso JV properties and general working capital purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Roxgold Inc.
|
| Issue: | Common stock
|
| Amount: | C$11 million
|
| Shares: | 10 million
|
| Price: | C$1.10
|
| Warrants: | No
|
| Underwriters: | Cormark Securities Inc. (lead), GMP Securities LP, RBC Capital Markets Inc., Fraser Mackenzie Ltd., PI Financial Corp., Pope & Co. Ltd., Raymond James Ltd. and Toll Cross Securities Inc.
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 16
|
| Stock symbol: | TSX Venture: ROG
|
| Stock price: | C$1.20 at close Oct. 27
|
| Market capitalization: | C$57.39 million
|
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