Business
Montage Closes Bought Deal Private Placement of Common Shares
Montage Closes Bought Deal Private Placement of Common Shares Canada NewsWire ...
About this update from Montage Gold Corp.
[{"type":"text","content":"\n \n \n \n Montage Closes Bought Deal Private Placement of Common Shares\n \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 Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 12, 2023\n \n \n /CNW/ -\n \n Montage Gold Corp.\n \n (\"\n \n Montage\n \n \" or the \"\n \n Company\n \n \") (TSXV: MAU) is pleased to announce the closing of its \"bought deal\" private placement offering of 21,786,300 common shares (the \"\n \n Offered Shares\n \n \") at an issue price of\n \n $0.70\n \n per Offered Share (the \"\n \n Issue Price\n \n \") for gross proceeds of\n \n $15,250,410\n \n (the \"\n \n Brokered Offering\n \n \"), including the full exercise of the option granted to the Underwriters (as defined herein) in connection with the Brokered Offering. The Brokered Offering was led by Canaccord Genuity Corp., as lead underwriter, on behalf of a syndicate of underwriters including BMO Capital Markets, Beacon Securities Limited, and Raymond James Ltd. (collectively, the \"\n \n Underwriters\n \n \"). The Company intends to issue shortly hereafter, on a non-brokered basis, an additional 2,714,300 Offered Shares at the Issue Price for additional gross proceeds of\n \n $1,900,010\n \n (the \"\n \n Non-Brokered Offering\n \n \", and together with the Brokered Offering, the \"\n \n Offering\n \n \"). Following closing of the Non-Brokered Offering, the Company will have issued an aggregate of 24,500,600 Offered Shares for total gross proceeds of\n \n $17,150,420\n \n under the Offering.\n \n \n The net proceeds from the issue of the Offered Shares are intended to be used for the Company's ongoing exploration and drilling program at the Koné Gold Project, including the advancement of an updated mineral resource estimate and for work related to an updated feasibility study, and for working capital and general corporate purposes, as further described in the Offering Document (as defined below).\n \n ...