Deal to fund Burkina Faso JV properties; offering is oversubscribed
By Devika Patel
Knoxville, Tenn., Nov. 16 - Roxgold Inc. said it completed an C$11.36 million oversubscribed private placement of stock. The deal priced for C$11 million on Oct. 28.
The company sold 10,325,000 common shares at C$1.10 apiece. The price per share reflects an 8.33% discount to the Oct. 27 closing share price of C$1.20.
The offering was conducted on a bought-deal basis through a syndicate of underwriters led by Cormark Securities Inc. and including GMP Securities LP, RBC Dominion Securities Inc., Fraser Mackenzie Ltd., PI Financial Corp., Pope & Co. Ltd., Raymond James Ltd. and Toll Cross Securities Inc.
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$11,357,500
|
| Shares: | 10,325,000
|
| Price: | C$1.10
|
| Warrants: | No
|
| Underwriters: | Cormark Securities Inc. (lead), GMP Securities LP, RBC Dominion Securities 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$60.21 million
|
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