Business
Azimut Announces Closing of $28.75 Million Bought Deal Private Placement Financing
Azimut Announces Closing of $28.75 Million Bought Deal Private Placement Financing ...
About this update from Azimut Exploration, Inc.
[{"type":"text","content":"\n \n \n \n Azimut Announces Closing of $28.75 Million Bought Deal Private Placement Financing\n \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.prntal{\nTEXT-ALIGN: LEFT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n Symbol: AZM.TSX Venture\n \n \n \n LONGUEUIL, QC\n \n ,\n \n July 16, 2021\n \n /CNW Telbec/ -\n \n Azimut Exploration Inc.\n \n (\"\n \n Azimut\n \n \" or the \"\n \n Company\n \n \") (TSXV: AZM) is pleased to announce that it has closed its previously announced bought deal private placement financing (the \"\n \n Offering\n \n \") for total gross proceeds of approximately\n \n $28.75 million\n \n , consisting of 3,463,900 common shares of the Company that qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) and section 359.1 of the\n \n Taxation Act\n \n (Québec)) (the \"\n \n FT Shares\n \n \") at a price of\n \n $3.32\n \n per FT Share and 9,078,472 common shares of the Company on a non-flow-through basis (the \"\n \n Shares\n \n \" and, together with the FT Shares, the \"\n \n Offered Shares\n \n \") at a price of\n \n $1.90\n \n \n \n per Share, which includes the exercise of the underwriters' option to purchase 1,973,172 additional Shares.\n \n \n Paradigm Capital Inc. acted as lead underwriter (the \"\n \n Lead Underwriter\n \n \") in connection with the Offering with a syndicate including Laurentian Bank Securities Inc. and Sprott Capital Partners LP (together with the Lead Underwriter, the \"\n \n Underwriters\n \n \"). As consideration for the services provided by the Underwriters in connection with the Offering, the Underwriters received: (a) a cash commission representing 6.0% of the aggregate gross proceeds from sales of the Offered Shares under the Offering (reduced to 3% for certain subscribers on the president's list of the Company); and (b) non-transferable compensation options, rep...