Business
Giga Metals Announces Terms of $6 Million Offering
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2021) - Giga Metals Corp. (TSXV: GIGA)...
About this update from Giga Metals Corporation
[{"type":"text","content":"Giga Metals Announces Terms of $6 Million OfferingVancouver, British Columbia--(Newsfile Corp. - April 1, 2021) - Giga Metals Corp. (TSXV: GIGA) (\"Giga Metals\" or the \"Company\") announces that further to its previously announced over-night marketed public offering (the \"Offering\") of units of the Company (the \"Offered Units\"), it has entered into an underwriting agreement with a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation (\"CFCC\"), as lead underwriter and sole bookrunner, and including Canaccord Genuity Corp., Haywood Securities Inc. and Echelon Wealth Partners Inc. (collectively with CFCC, the \"Underwriters\") to sell: (i) 7,800,000 common share units (\"Common Units\") at a price to the public of $0.45 per Common Unit (the \"Common Unit Price\") (the \"Common Unit Offering\") and (ii) 4,800,000 flow-through shares units (\"FT Units\", together with the Common Units, the \"Offered Units\") at a price to the public of $0.51 per FT Unit (the \"FT Unit Price\") (the \"FT Unit Offering\", together with the Common Unit Offering, the \"Offering\"). Each Common Unit shall be comprised of one common share in the capital of the Company (each, a \"Common Share\") and one Common Share purchase warrant (each a \"Warrant\"). Each Warrant shall entitle the holder to purchase one Common Share at $0.60 at any time on or before the date which is 36 months after the Closing Date. Each FT Unit shall be comprised of one common share in the capital of the Company that qualify as \"flow-through shares\" for purposes of the Income Tax Act (Canada) (each, a \"FT Share\") and one Warrant.The Company has granted to the Underwriters an option (the \"Over-Allotment Option\"), exercisable in whole or in part, in the sole discretion of the Underwriters, for a period of 30 days from and including the closing of the Offering, to purchase up to an additional 1,170,000 Common Units at the Common Unit Price and 720,000 FT Units at the FT Unit Price. If the Over-Allotment Option is exercised in full, the total gross proceeds to the Company will be approximately $6.9 million. The Company will pay the Underwriters a cash commission equal to 6.5% of the gross proceeds of the Offering, including proceeds received from the exercise of the Over-Allotment Option, in addition to broker warrants to purchase up to 6.5% of the number of ...