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Snowline Gold Announces C$20.0 Million Bought Deal Private Placement Of Flow-Through Shares
VANCOUVER, BC, March 17, 2025 /CNW/ - Snowline Gold Corp. (TSXV: SGD) (OTC: SNWGF) ("Snowline" or the "Company") is pleased to announce that it has entered into
About this update from Snowline Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, March 17, 2025 /CNW/ - Snowline Gold Corp. (TSXV: SGD) (OTC: SNWGF) (\"Snowline\" or the \"Company\") is pleased to announce that it has entered into an agreement pursuant to which Cormark Securities Inc., as lead underwriter, on behalf of a syndicate of underwriters (collectively, the \"Underwriters\"), has agreed to purchase, on a \"bought deal\" private placement basis, 1,875,000 \"flow-through\" shares of the Company (the \"Charity FT Share\") at a price of $10.68 per Charity FT Share (\"Offering Price\") for gross proceeds of $20,025,000 (the \"Offering\"). Each Charity FT Share will qualify as a \"flow-through share\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)). \"This financing will serve to top up an already strong treasury for Snowline, allowing for efficient use of exploration capital and providing a long runway to continue our exploration this year and next as we work to unlock a district,\" said Scott Berdahl, CEO & Director of Snowline. \"At the same time, it will free up existing capital for the rapid, efficient advancement of important work on the Valley deposit, including engineering and environmental studies. We are excited to ramp up our efforts on multiple fronts as we head into the 2025 field season.\" The Company will use an amount equal to the gross proceeds received by the Company from the sale of the Charity FT Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" as both terms are defined in the Income Tax Act (Canada) (the \"Qualifying Expenditures\") related to the Company's projects in the Yukon Territory, on or before December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the subscribers of the Charity FT Shares effective December 31, 2025. The Offering is expected to close on or about April 3, 2025, or such other date as the Company and the Underwriters may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange. The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any sta...