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Mako Mining Corp. Announces Rights Offering and Standby Commitment
Mako Mining Corp. Announces Rights Offering and Standby Commitment Canada NewsWire...
About this update from Mako Mining Corp.
[{"type":"text","content":"\n\n\n\nMako Mining Corp. Announces Rights Offering and Standby Commitment\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 10, 2019\n\n\n\nTSX-V:MKO\n TORONTO, June 10, 2019 /CNW/ - Mako Mining Corp. (TSX-V: MKO) (\"Mako\" or the \"Company\") today announced that it will conduct an offering (the \"Rights Offering\") of rights to acquire common shares of the Company (\"Common Shares\") to raise gross proceeds of C$27,000,000.\n\n \n \n\n \nPursuant to the rights offering circular (the \"Rights Offering Circular\") and the notice of rights offering (the \"Notice of Rights Offering\") each eligible registered shareholder of the Company resident in Canada holding Common Shares as at the close of business on June 18, 2019 (the \"Record Date\") will receive 0.860792876 of one right for every one (1) Common Share held. All fractional rights will be rounded down to the nearest whole number of rights (each whole right, a \"Right\").  Each Right will entitle the holder to subscribe for one Common Share at a subscription price of C$0.10 per Common Share (the \"Basic Subscription Privilege\"). Shareholders who fully exercise their Rights under the Basic Subscription Privilege will also be entitled to subscribe for additional Common Shares, on a pro rata basis, if available as a result of unexercised Rights prior to the Expiry Time (the \"Additional Subscription Privilege\"), subject to certain limitations as set out in the Company's Rights Offering Circular.\nThe Rights will be listed and posted for trading on the TSX Venture Exchange under the symbol \"MKO.RT\" on a \"when issued\" basis commencing on June 17, 2019 and will expire at 2:00 p.m. (Vancouver time)/5:00 p.m. (Toronto time) (the \"Expiry Time\") on July 15, 2019, after which time unexercised Rights will be void and of no value.\nThe Company currently has 313,664,306 Common Shares issued and outstanding. If all Rights issued under the Rights Offering are validly exercised, an additional 270,000,000 Common Shares would be issued. The Company inte...