Macquarie leads bought-deal private placement with 25% greenshoe
New York, Feb. 9 – Pure Gold Mining Inc. said it will sell a C$5.3 million private placement of flow-through common shares and common shares.
The company will offer 12,857,143 flow-through shares at C$0.35 each and 2,857,143 at C$.028 each, according to a news release.
Macquarie Capital Markets Canada Ltd. is leading the bought-deal private placement and Cormark Securities Inc. and Canaccord Genuity Corp. are also in the syndicate.
The underwriters have an option to increase the number of shares in both tranches by 25%.
Proceeds will be used for exploration and development of the company’s Madsen gold project in Red Lake, Ont. and for working capital and general corporate purposes.
Pure Gold Mining is a Vancouver, B.C. gold mining company.
Issuer: | Pure Gold Mining Inc.
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Issue: | Flow-through common shares, common shares
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Amount: | C$5.3 million
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Greenshoe: | For 25% of each tranche
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Underwriters: | Macquarie Capital Markets Canada Ltd. (lead), Cormark Securities Inc., Canaccord Genuity Corp.
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Announcement date: | Feb. 9
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Settlement: | Feb. 20
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Stock symbol: | TSX Venture: PGM
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Stock price: | C$0.29 at close on Feb. 6
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Market capitalization: | C$32 million
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Flow-through shares
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Issue: | Flow-through common shares
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Amount: | C$4.5 million
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Shares: | 12,857,143
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Price: | C$0.35
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Common shares
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Issue: | Common shares
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Amount: | C$800,000
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Shares: | 2,857,143
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Price: | C$0.28
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