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Mako Mining Announces Closing of $28.4 Million Private Placement of Units
Mako Mining Announces Closing of $28.4 Million Private Placement of Units Canada N...
About this update from Mako Mining Corp.
[{"type":"text","content":"\n\n\n\nMako Mining Announces Closing of $28.4 Million Private Placement of Units\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 16, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n VANCOUVER, BC, July 16, 2020 /CNW/ - Mako Mining Corp. (TSXV: MKO) (OTCQX: MAKOF) (\"Mako\" or the \"Company\") is pleased to announce that it has closed the private placement initially announced on June 26, 2020 for total gross proceeds of $28.4 million (the \"Offering\"). The Offering consisted of a bought deal private placement (the \"Bought Deal Offering\") of an aggregate of 30,000,000 units of the Company (the \"Units\") at an issue price per Unit of $0.40 (the \"Offering Price\") for total gross proceeds of $12.0 million and a concurrent non-brokered private placement of an aggregate of 41,000,000 Units issued to Wexford Spectrum Trading Limited and Wexford Catalyst Trading Limited, funds managed by Wexford Capital LP (collectively, \"Wexford\") on the same terms as the Bought Deal Offering for total gross proceeds of $16.4 million, pursuant to the exercise by Wexford of its participation right under the investor rights agreement between the Company and Wexford dated November 9, 2018.\n\n \n \n \n \n \n \n\n \nEach Unit consisted of one common share of the Company (a \"Common Share\") and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant is exercisable by the holder thereof to purchase one Common Share at an exercise price of $0.60 until January 16, 2022.\nThe net proceeds from the Offering will be used to fund remaining capital expenditures at the San Albino Gold Project in Nicaragua, for debt repayment (from funds raised under the Bought Deal Offering only), exploration expenditures and working capital and general corporate purposes. \nStifel GMP led a syndicate of underwriters, which included ...