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GR Silver Mining Upsizes Bought Deal Financing to $8.1 Million
GR Silver Mining Upsizes Bought Deal Financing to $8.1 Million Canada NewsWire V...
About this update from Gr Silver Mining Ltd.
[{"type":"text","content":"\n\n\n\nGR Silver Mining Upsizes Bought Deal Financing to $8.1 Million\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 8, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, May 8, 2020 /CNW/ - GR Silver Mining Ltd. (TSXV: GRSL, FRANKFURT: GPE, OTCQB: GLYXF) (\"GR Silver Mining\" or the \"Company\") – is pleased to announce that it has further increased the size of its previously announced brokered private placement offering (\"Offering\") of units (\"Units\") in order to accommodate participation by First Majestic Silver Corp. (TSX: FR, NYSE: AG), an existing major shareholder of the Company, in the Offering. \nUnder the amended terms of the Offering, Beacon Securities Limited (the \"Lead Underwriter\"), as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the \"Underwriters\") has agreed to purchase, on a \"bought deal\" private placement basis, 30,000,000 Units of the Company at a price of $0.27 per Unit, for aggregate gross proceeds to the Company of $8,100,000.  As previously announced, 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 3,900,000 Units, for additional gross proceeds of up to $1,053,000, 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 recei...