Business
Minaurum Announces C$7.0 Million Bought Deal Public Offering
Vancouver, British Columbia--(Newsfile Corp. - June 10, 2021) - Minaurum Gold Inc. (TSXV:...
About this update from Minaurum Silver Inc.
[{"type":"text","content":"Minaurum Announces C$7.0 Million Bought Deal Public OfferingVancouver, British Columbia--(Newsfile Corp. - June 10, 2021) - Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (\"Minaurum\" or the \"Company\") is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. (the \"Underwriter\") to act as sole underwriter and bookrunner, pursuant to which the Underwriter has agreed to purchase, on a bought deal basis, 17,500,000 units of the Company (the \"Units\") at a price of C$0.40 per Unit (the \"Unit Price\") for aggregate gross proceeds of C$7,000,000 (the \"Offering\"). Each Unit will be comprised of one common share of the Company (each, a \"Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall be exercisable to acquire one Share at a price of C$0.60 at any time on or before the date, which is 24 months after the closing date of the Offering.The Company has granted to the Underwriter an option, exercisable for a period of 30 days after and including the closing date of the Offering, to purchase up to 2,625,000 additional Units at the Unit Price to raise additional gross proceeds of up to C$1,050,000 to cover over-allotments, if any, and for market stabilization purposes. The Units will be offered by way of a short form prospectus to be filed in the Provinces of British Columbia, Alberta and Ontario. The Units may also be sold in certain offshore jurisdictions and in the United States and to, or for the account or benefit of, \"U.S. persons\" (as defined under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") to \"qualified institutional buyers\" (as defined in Rule 144A under the U.S. Securities Act and to \"accredited investors\" as defined in Rule 501(a) of Regulation D under the U.S. Securities Act, by way of a private placement basis pursuant to exemptions from the registration requirements of the U.S. Securities Act.The Company intends to use the net proceeds raised from the sale of Units for the exploration of the Company's mineral projects in Mexico and general working capital purposes, as will be further disclosed in the Company's short form prospectus. The Offering is scheduled to close on or around July 9, 2021 and is subject to the completion of formal documentation and receipt of all regula...