Business
Fosterville South Closes Oversubscribed $7.85 Million Financing
Fosterville South Closes Oversubscribed $7.85 Million Financing Canada NewsWire ...
About this update from Great Pacific Gold Corp.
[{"type":"text","content":"\n\n\n\nFosterville South Closes Oversubscribed $7.85 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, BC, July 21, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, BC, July 21, 2020 /CNW/ - Fosterville South Exploration Ltd. (\"Fosterville South\" or the \"Company\") (TSXV: FSX) (OTC: FSXLF) is pleased to announce that it has closed its previously announced private placement financing (the \"Offering\") by issuing a total of 1,962,500 units (the \"Units\") at a price of $4.00 per Unit for gross proceeds of $7,850,000.\n\n \n \n \n \n \n \n\n \nHighlights:\nStrong Participation from Current Large Shareholders Multiple New Institutional Investors Added to Share Registry Strong Balance Sheet and Cash Position and No DebtFosterville 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 oversubscribed financing. The strong demand for this private placement is a testament to the quality of assets and premier land package assembled over a multi-year period, which provide a great foundation for our growth plans. Fosterville South is in a very active phase on the ground, with multiple drills turning 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.\"\nEach Unit consists of one common share (each, a \"Common Share\"); and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder to purchase a Common Share at an exercise price of $4.95 for a period of 24 months ending July 21, 2022.\nClarus Securities Inc. acted as Lead Agent on behalf of a syndicate of agents that included Canaccord Genuity Corp., PI Financial Corp., Eventus Capital Corp. and Mackie Research Capital Corporation.  Fostervi...