Business
Sandfire Resources America Inc. Announces C$30 Million Rights Offering
VANCOUVER, British Columbia, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. (TSX.V: "SFR"; OTCQB: "SRAFF") ("Sandfire" or the "Company") anno
About this update from Sandfire Resources America Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. (TSX.V: \"SFR\"; OTCQB: \"SRAFF\") (\"Sandfire\" or the \"Company\") announces that it will conduct a rights offering to raise gross proceeds of up to approximately C$30.0 million (the \"Rights Offering\"). The Company will issue rights (the \"Rights\") to existing shareholders in Canada and to eligible shareholders in the United States and in certain other jurisdictions at the close of business on the record date of November 24, 2020 (the \"Record Date\"). The Company is pleased that shareholders in Montana and in certain other states in the U.S. will be entitled to participate in the Rights Offering. Eligible shareholders will receive ten (10) Rights for each common share of the Company (each a \"Share\") held. Forty-one (41) Rights will entitle the holder to subscribe for one (1) Share upon payment of the subscription price of C$0.15 per Share (the \"Subscription Price\"). For example, a holder of 410 Shares will be entitled to subscribe for 100 Shares for an aggregate subscription price of C$15. Shareholders who fully exercise their Rights will also be entitled to subscribe for additional Shares in the Rights Offering, if available as a result of unexercised Rights prior to 5:00 p.m. (Toronto time) on December 22, 2020 (the \"Expiry Time\"), subject to certain limitations set out in the Company's rights offering circular (the \"Circular\"). The Rights will trade on the TSX Venture Exchange under the symbol SFR.RT commencing on the first trading day prior to the Record Date and until 12:00 p.m. (Toronto time) on December 22, 2020. The Rights will expire at the Expiry Time, after which time unexercised Rights will be void and of no value. No fractional Shares will be issued under the Rights Offering. A rights offering notice and rights certificate will be mailed to each registered shareholder of the Company resident in Canada and to each shareholder in the United States other than in the states of Arizona, Arkansas, California, Minnesota, New York, Ohio and Wisconsin as at the Record Date. Registered shareholders who wish to exercise their Rights must forward the completed rights certificate, together with the applicable funds, to the rights agent, Computershare Investor Services Inc., on or before the Expiry Time....