Business
TerraX Announces Closing of Over-Allotment Option in Full
Not for Distribution to U.S. News Wire Services or Dissemination in the United States. V...
About this update from Gold Terra Resource Corp.
[{"type":"text","content":"TerraX Announces Closing of Over-Allotment Option in FullNot for Distribution to U.S. News Wire Services or Dissemination in the United States.VANCOUVER, BC / ACCESSWIRE / January 17, 2020 / TerraX Minerals Inc. (TSX-V:TXR; Frankfurt:TX0; OTC Pink:TRXXF) (\"TerraX\" or the \"Company\") is pleased to announce that, further to the announcement on January 10, 2020 that BMO Capital Markets (the \"Underwriter\") had exercised in full its over-allotment option (the \"Over-Allotment Option\") in connection with the Company's recently completed bought deal offering of C$5 million which closed on December 27, 2019 (the \"Offering\"), the Underwriter has purchased an additional 2,000,000 common shares in the capital of the Company (the \"Common Shares\") at a price of C$0.25 per Common Share for additional gross proceeds of C$500,000, bringing the total gross proceeds raised pursuant to the Offering to C$5,500,000. The Underwriter received a cash commission equal to 6% of the gross proceeds from the issue and sale of the Common Shares pursuant to the Over-Allotment Option (other than from the issue and sale of the Common Shares to certain purchasers on a president's list, for which a 2% cash commission was paid).The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.The net proceeds of the Offering, including those raised from the Over-Allotment Option, will be used to advance exploration at the Company's wholly-owned Yellowknife City Gold project, for working capital, and for general corporate purposes.On behalf of the Board of Directors,\"DAVID SUDA\"David SudaPresident and CEOFor more information, please contact:Samuel VellaManager of Corporate CommunicationsPhone: 604-689-1749 / Toll-Free: [email protected] the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news ...