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1911 Gold Closes C$13.2 Million "Bought Deal" Life Offering Including Increased Investment by Eric Sprott
VANCOUVER, British Columbia, July 17, 2025 (GLOBE NEWSWIRE) -- 1911 Gold Corporation (“ ...
About this update from 1911 Gold Corp.
[{"type":"text","content":"1911 Gold Closes C$13.2 Million “Bought Deal” Life Offering Including Increased Investment by Eric Sprott\n\n\n\n VANCOUVER, British Columbia, July 17, 2025 (GLOBE NEWSWIRE) -- 1911 Gold Corporation (“\n \n 1911 Gold\n \n ” or the “\n \n Company\n \n ”) (TSXV: AUMB; FRA: 2KY) is pleased to announce that it has completed its previously announced “bought deal” LIFE offering (the “\n \n Offering\n \n ”) for gross proceeds of C$13,225,232.30, including the exercise in full of the Underwriters’ Option (as defined in the press release dated June 24, 2025). The Offering consisted of the sale of: (i) 3,750,000 common shares of the Company (the “\n \n Non-FT Shares\n \n ”) at a price of C$0.20 per Non-FT Share; (ii) 2,924,000 common shares (the “\n \n Tranche 1 CEE Shares\n \n ”) at a price of C$0.342 per Tranche 1 CEE Share; (iii) 31,163,633 common shares (the “\n \n Tranche 2 CEE Shares\n \n ” and together with the Tranche 1 CEE Shares, the “\n \n CEE Offered Shares\n \n ”) at a price of C$0.288 per Tranche 2 CEE Share; and (iv) 10,163,000 common shares (the “\n \n CDE Offered Shares\n \n ” and, together with the Non-FT Shares and CEE Offered Shares, the “\n \n Offered Shares\n \n ”) at a price of C$0.246 per CDE Offered Share. The CEE Offered Shares and CDE Offered Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (Canada) (the “\n \n Tax Act\n \n ”)).\n \n\n Shaun Heinrichs, President and CEO of 1911 Gold, commented, \"We’re extremely pleased with the overwhelming interest in this financing, which was significantly oversubscribed. Notably, Mr. Eric Sprott increased his participation and led the financing with a commitment well above his pro rata share. This additional capital positions us well to ramp up exploration and advance key development activities at the True North underground mine, in preparation for a potential restart of operations.\"\n \n\n Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 9,288,734 common shares pursuant to the Offering for total consideration of $1,857,746.80. Prior to the Offering, Mr. Sprott beneficia...