Deal funds the company's Yaramoko Permit, exploration at the property
By Devika Patel
Knoxville, Tenn., July 12 - Roxgold Inc. said it will raise C$10 million in a private placement of stock.
The company will sell 25 million common shares at C$0.40 each on a bought-deal basis. The price per share is a 2.44% discount to the July 11 closing share price of C$0.41.
Settlement is expected on Aug. 1.
The deal will be conducted by a syndicate of underwriters led by Cormark Securities Inc. and including Macquarie Capital Markets Canada Ltd., Toll Cross Securities Inc., GMP Securities LP, Jennings Capital Inc., and Raymond James Ltd.
Proceeds will be used to advance the Yaramoko Permit and for exploration at the property, as well as for general working capital purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Roxgold Inc.
|
| Issue: | Common stock
|
| Amount: | C$10 million
|
| Shares: | 25 million
|
| Price: | C$0.40
|
| Warrants: | No
|
| Underwriters: | Cormark Securities Inc. (lead), Macquarie Capital Markets Canada Ltd., Toll Cross Securities Inc., GMP Securities LP, Jennings Capital Inc., and Raymond James Ltd.
|
| Pricing date: | July 12
|
| Settlement date: | Aug. 1
|
| Stock symbol: | TSX Venture: ROG
|
| Stock price: | C$0.41 at close July 11
|
| Market capitalization: | C$58.73 million
|
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