Business
Caldas Gold Announces Closing of US$83 Million Private Placement of Subscription Receipts
With execution of the Wheaton stream anticipated in the next couple of weeks, Caldas Gold will be fully funded with a total of approximately US$240 million rais
About this update from Aris Mining Corp
[{"type":"text","content":" With execution of the Wheaton stream anticipated in the next couple of weeks, Caldas Gold will be fully funded with a total of approximately US$240 million raised to build Colombia’s next major gold mine at its Marmato Project. The Marmato Project will be the first significant infrastructure project in Colombia following the COVID-19 national quarantine. Caldas Gold’s investment will increase direct and indirect local jobs to 2,700 and add 900 construction jobs over the next three years in the Department of Caldas, Colombia. TORONTO, Aug. 26, 2020 (GLOBE NEWSWIRE) -- Caldas Gold Corp. (TSX-V: CGC; OTCQX: ALLXF) (the “Company” or “Caldas Gold”) is pleased to announce that it has completed its previously announced fully marketed private placement offering of subscription receipts for aggregate gross proceeds of US$83,066,000 (the “Offering”). A total of 83,066 subscription receipts of the Company (“Subscription Receipts”) were sold pursuant to the Offering, at a price of US$1,000 per Subscription Receipt. The Offering was conducted pursuant to an agency agreement executed today with a syndicate of agents led by Scotiabank and Canaccord Genuity Corp., as co-lead agents (the “Co-Lead Agents”), on behalf of a syndicate of agents including Stifel Nicolaus Canada Inc. and Red Cloud Securities Inc. (collectively with the Co-Lead Agents, the “Agents”). The net proceeds of the Offering will be used for the expansion of the underground mining operations at Caldas Gold’s Marmato Project and to pay interest on the Notes (as described below) during the first two years following their issuance. Serafino Iacono, Chairman and CEO of Caldas Gold, commented, “We are very pleased to have closed this second phase of our financing to build Colombia’s next major gold mine at our Marmato Project. We will now focus on the third and final phase – the US$110 million streaming transaction with Wheaton Precious Metals Corp. through their wholly owned subsidiary, Wheaton Precious Metals International Ltd. Cumulatively, we will have raised a total of approximately US$240 million through our financing efforts and we are ready to commence the expansion of our Marmato Project starting in September. This will be the first significant infrastructure project in Colombia following the COVID-19 national quarantine, one that will help the local economy, including dou...