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GoldSpot Discoveries Corp. Announces $9.15M Strategic Investment from Eric Sprott
$9.15M from Eric Sprott and the recent oversubscribed $11.5M private placement provides ...
About this update from Earthlabs Inc
[{"type":"text","content":"GoldSpot Discoveries Corp. Announces $9.15M Strategic Investment from Eric Sprott $9.15M from Eric Sprott and the recent oversubscribed $11.5M private placement provides significant capital for GoldSpot Investment at a premium to the market, positions the Company to accelerate its diversified acquisition and revenue strategies as GoldSpot advances its position as a leading mineral exploration technology companyToronto, Ontario--(Newsfile Corp. - June 14, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) (the \"Company\" or \"GoldSpot\") a leading technology services company leveraging machine learning to transform the mineral discovery process, is pleased to announce that it has completed a non-brokered private placement (the \"Offering\") pursuant to which the Company has issued 9,380,000 common shares (\"Shares\") at a price of $0.975 per Share to raise aggregate gross proceeds of $9,145,500. Canaccord Genuity Corp. acted as the Company's financial advisor for the Offering and received a cash financial advisory fee in the amount of $274,365. Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 9,380,000 Shares under the Offering for consideration of $9,145,500. Subsequent to the closing of the Offering, Mr. Sprott beneficially owns or controls 23,681,332 Shares of the Company representing approximately 19.9% of the issued and outstanding Shares of the Company on a non-diluted basis. Prior to the Offering, Mr. Sprott beneficially owned and controlled 14,301,332 Shares of the Company representing 13.1% of the issued and outstanding Shares on a non-diluted basis.The Shares were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of GoldSpot, including on the open market or through private acquisitions, or sell securities of the Company, including on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time. \"Eric is one of our earliest supporters and a valued shareholder in GoldSpot. This $9.1M investment at a premium to the market, is a strong endorsement of our Company and the management team as we develop and acquire licensable products to build ro...