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Scottie Announces Bought Deal Private Placement of Flow-Through Shares
Scottie Announces Bought Deal Private Placement of Flow-Through Shares Canada N...
About this update from Scottie Resources Corp.
[{"type":"text","content":"\n \n \n \n Scottie Announces Bought Deal Private Placement of Flow-Through Shares\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN\n \n CANADA\n \n ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n May 11, 2021\n \n /CNW/ - Scottie Resources Corp. (TSXV: SCOT) (\"Scottie\" or the \"Company\") is pleased to announce that it has entered into an agreement with Stifel GMP, pursuant to which Stifel GMP will purchase, on a \"bought deal\" private placement basis, 20,000,000 flow-through common shares of the Company (the \"Charitable FT Shares\") at a price of\n \n C$0.27\n \n per Charitable FT Share (the \"Offering Price\") for aggregate gross proceeds to the Company of\n \n C$5,400,000\n \n (the \"Offering\"). The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 5,000,000 Charitable FT Shares at the Offering Price exercisable in whole or in part, at any time and from time to time on or prior to the date that is 48 hours prior to the Closing Date (as defined below).\n \n \n Each Charitable FT Share shall consist of one common share of the Company which will qualify as a \"flow-through share\" (within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) and will be sold on a charitable flow-through basis.\n \n \n The gross proceeds received by the Company from the sale of the Charitable FT Shares will be used to incur eligible \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" as both terms are defined in the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"Qualifying Expenditures\") related to the Company's projects in\n \n British Columbia\n \n . The Qualifying Expenditures will be renounced in favour of the su...