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GR Silver Mining Announces $6 Million Bought Deal Financing
GR Silver Mining Announces $6 Million Bought Deal Financing Canada NewsWire VANC...
About this update from Gr Silver Mining Ltd.
[{"type":"text","content":"\n\n\n\nGR Silver Mining Announces $6 Million Bought Deal Financing\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 7, 2020\n\n\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n VANCOUVER, May 7, 2020 /CNW/ - GR Silver Mining Ltd. (TSXV: GRSL, FRANKFURT: GPE, OTCQB: GLYXF) (\"GR Silver Mining\" or the \"Company\") – announces that it has entered into an agreement with Beacon Securities Limited (the \"Lead Underwriter\"), as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase, on a \"bought deal\" private placement basis, 22,300,000 units (\"Units\") at a price of $0.27 per Unit (the \"Issue Price\") for aggregate gross proceeds to the Company of $6,021,000 (the \"Offering\").  Each Unit will consist of one common share in the capital of the Company and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\").  Each Warrant will be exercisable to acquire one common share for a period of 12 months following closing of the Offering at an exercise price of $0.40 per share.\nThe Company has granted the Underwriters an option, exercisable by the Lead Underwriter on behalf of the Underwriters, to purchase up to an additional 3,345,000 Units, for additional gross proceeds of up to $903,150, exercisable in whole or in part at any time up to 48 hours prior to the closing date of the Offering.\nThe Company intends to use the net proceeds of the Offering for working capital and general corporate purposes.\nThe Offering is expected to close on or about May 28, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.  All securities issued under the Offering will be subject to a hold period in Canada expiring four months and one day ...