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Perpetua Resources Announces Closing of US$50 Million Public Offering
Perpetua Resources Announces Closing of US$50 Million Public Offering Canada Ne...
About this update from Perpetua Resources Corp.
[{"type":"text","content":"\n \n \n \n Perpetua Resources Announces Closing of US$50 Million Public Offering\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n BOISE, Idaho\n \n ,\n \n Aug. 17, 2021\n \n /CNW/ -\n \n Perpetua Resources Corp.\n \n (Nasdaq: PPTA) (TSX: PPTA) (\"Perpetua Resources\" or the \"Company\") today announced the completion of its previously announced underwritten marketed public offering in\n \n the United States\n \n and Canada.  The Company has issued 9,523,810 common shares at a price to the public of\n \n US$5.25\n \n per share for gross proceeds of\n \n US$50 million\n \n in connection with the offering (the \"Offering\"), which was led by B. Riley Securities, Inc. and Cantor Fitzgerald Canada Corporation, each acting as joint book-running managers. The Company has granted the underwriters a 30-day over-allotment option to purchase up to an additional 1,428,572 common shares.\n \n \n The Company expects to use the net proceeds of the Offering to continue permitting, early restoration and field operations, engineering and design at the Stibnite Gold Project and for general corporate purposes.\n \n \n Paulson & Co. Inc. (\"Paulson\") purchased 3,835,810 common shares as part of the Offering to maintain its pro rata interest of 40.276% of outstanding common shares, pursuant to Paulson's contractual participation right under the amended and restated investor rights agreement dated\n \n March 17, 2020\n \n , among Paulson, Idaho Gold Resources Company, LLC (a subsidiary of Perpetua Resources) and the Company. By virtue of the participation of Paulson, an insider of the Company, the Offering constituted a \"related party transaction\" under Multilateral Instrument 61-101\n \n Protection of Minority Security Holders in Special Transactions\n \n (\"MI 61-101\"). The Company relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a) thereunder.\n \n \n In connection with the Offering, Perpetua Resources filed a prospectus supplement dat...