Business
Fosterville South Closes $15 Million Financing
Fosterville South Closes $15 Million Financing Canada NewsWire VANCOUVER, May 14...
About this update from Great Pacific Gold Corp.
[{"type":"text","content":"\n\n\n\nFosterville South Closes $15 Million 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 14, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\nStrong Participation from Current Large Shareholders Multiple New Institutional Investors Added to Share Registry Strong Balance Sheet and Cash Position and No Debt VANCOUVER, May 14, 2020 /CNW/ - Fosterville South Exploration Ltd. (\"Fosterville South\" or the \"Company\", FSX:TSX Venture; FSXLF: OTC Markets) is pleased to announce that it has closed its previously announced private placement financing (the \"Offering\") by issuing a total of 13,636,363 units (the \"Units\") at a price of $1.10 per Unit for gross proceeds of $14,999,996.\n\n \n \n \n \n \n \n\n \nFosterville South Chief Executive Officer and director, Bryan Slusarchuk states, \"We thank existing large shareholders, new investors and the syndicate of agents for their support of our exploration efforts via this strongly oversubscribed financing. The high demand for this private placement is a testament to the quality of assets assembled over a multi-year period, which provide a strong foundation for our growth plans. Fosterville South is now entering a very active phase on the ground, with multiple drills turning and a lot of field work occurring, and we are doing so with a strong balance sheet, a strong cash position and no debt. We look forward to keeping you updated as we progress on this premier land package.\" \nEach Unit consists of one common share of the Company (each, a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to purchase a Common Share at an exercise price of $2.00 for a period of 24 months ending May 14, 2022.\nClarus Securities Inc acted as Lead Agent on behalf of a syndicate of agents that included Canaccord Genuity Corp., Cormark Securities Inc., Eight Capital, Mackie Research Capital Corporation, Haywood...