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Cabral Gold Inc. Announces $10 million Bought Deal Public Offering of Units
Cabral Gold Inc. Announces $10 million Bought Deal Public Offering of Units Can...
About this update from Cabral Gold, Inc.
[{"type":"text","content":"\n \n \n \n Cabral Gold Inc. Announces $10 million Bought Deal Public Offering of Units\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}\ntable p, #divContent table p\n{\nmargin: 0px;\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 NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n TORONTO\n \n ,\n \n June 8, 2021\n \n /CNW/ -\n \n Cabral Gold Inc.\n \n (TSXV: CBR) (OTC: CBGZF)\n \n (\"Cabral\" or the \"Company\")\n \n is pleased to announce that it has entered into an agreement with a syndicate of investment dealers led by Cormark Securities Inc. (collectively, the \"\n \n Underwriters\n \n \") pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, an aggregate of 18,520,000 units (the \"\n \n Units\n \n \") from the treasury of the Company, at a price of\n \n $0\n \n .54 per Unit for total gross proceeds to the Company of approximately $10 million (the \"\n \n Offering\n \n \").\n \n \n Each Unit will consist of one common share of the Company (a \"\n \n Common Share\n \n \") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a \"\n \n Warrant\n \n \"). Each Warrant will entitle the holder thereof to acquire one Common Share from the Company at a price of\n \n $0\n \n .80 per Common Share for a period of 24 months after Closing.\n \n \n In addition, the Company has granted the Underwriters an option (the \"\n \n Over-Allotment Option\n \n \") to purchase up to an additional 15% of the Units of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.\n \n \n The net proceeds of the Offering shall be used for the advancement of the Company's Cuiú Cuiú Project and for working capital and general corporate purposes.\n \n \n Closing of the Offering is expected to occur on or about\n \n June 29, 2021\n \n and is subject to certain conditions including, but no...