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1911 Gold Corporation Announces Closing of $5.2 Million "Bought Deal" Private Placement of Flow-Through Shares
1911 Gold Corporation Announces Closing of $5.2 Million "Bought Deal" Private Placement of...
About this update from 1911 Gold Corp.
[{"type":"text","content":"\n\n\n\n1911 Gold Corporation Announces Closing of $5.2 Million \"Bought Deal\" Private Placement of Flow-Through Shares\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 14, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n TORONTO, July 14, 2020 /CNW/ - 1911 Gold Corporation (\"1911 Gold\" or the \"Company\") (TSXV: AUMB) is pleased to announce that it has closed its previously announced \"bought deal\" private placement of 8,200,000 common shares in the capital of the Company that will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (collectively, the \"Flow-Through Shares\") for aggregate gross proceeds of $5,208,000 (the \"Offering\"). The Flow-Through Shares were issued in two tranches with tranche one consisting of 4,275,000 Flow-Through Shares (the \"Premium FT Shares\") issued to purchasers resident in Manitoba at a price of $0.75 per Premium FT Share for aggregate gross proceeds of $3,206,250 and tranche two consisting of 3,925,000 Flow-Through Shares (the \"National FT Shares\") issued to purchasers resident outside of Manitoba at a price of $0.51 per National FT Share for aggregate gross proceeds of $2,001,750. \n\n \n \n \n \n \n \n\n \nCanaccord Genuity Corp., BMO Capital Markets and Stifel GMP acted as underwriters (collectively, the \"Underwriters\") in connection with the Offering pursuant to the terms of an underwriting agreement dated July 14, 2020. In consideration for their services in connection with the Offering, the Company paid the Underwriters a cash commission equal to 4.7% of the aggregate gross proceeds from the sale of Flow-Through Shares, and a reduced cash commission equal to 2.0% of the aggregate gross proceeds from the sale of Flow-Through Shares to certain purchasers on the \"President's List\". As additional consideration for their services in connection with the Offering, the Company issued the Underwriters non-transferable broker warrants of t...