GMP, BMO, Haywood and RBC conduct offer alongside a non-brokered sale
By Devika Patel
Knoxville, Tenn., June 1 – Newmarket Gold Inc. said it has arranged a C$24.8 million brokered private placement of subscription receipts and a C$200,000 non-brokered private placement of subscription receipts.
The company will sell the subscription receipts at C$1.25 apiece, a 76% premium to the May 29 closing share price of C$0.30. Each subscription receipt will automatically convert into a common share.
In addition, a director has agreed to purchase C$200,000 of subscription receipts at the same price in a separate, non-brokered private placement.
The brokered deal will be conducted on a bought deal basis by a syndicate of underwriters co-led by GMP Securities LP and BMO Capital Markets and including Haywood Securities Inc. and RBC Capital Markets.
Settlement is expected June 12.
Proceeds will be used to bolster the company’s working capital position.
The gold explorer is based in Vancouver, B.C.
Issuer: | Newmarket Gold Inc.
|
Issue: | Subscription receipts
|
Amount: | C$25 million
|
Price: | C$1.25
|
Warrants: | No
|
Underwriters: | GMP Securities LP and BMO Capital Markets (co-leads), Haywood Securities Inc. and RBC Capital Markets (for C$24.8 million), non-brokered (for C$200,000)
|
Pricing date: | June 1
|
Settlement date: | June 12
|
Stock symbol: | TSX Venture: NGN
|
Stock price: | C$0.30 at close May 29
|
Market capitalization: | C$15.48 million
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.