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Snowline Gold Corp. Announces C$15.0 Million Bought Deal Private Placement of Flow-Through Shares
Snowline Gold Corp. Announces C$15.0 Million Bought Deal Private Placement of Flow-Through Shares...
About this update from Snowline Gold Corp.
[{"type":"text","content":"\n \n \n \n Snowline Gold Corp. Announces C$15.0 Million 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 \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 15, 2023\n \n \n /CNW/ -\n \n Snowline Gold Corp.\n \n (TSXV: SGD) (OTCQB: SNWGF) (\"\n \n Snowline\n \n \" or the \"\n \n Company\n \n \") 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 \"\n \n Underwriters\n \n \"), has agreed to purchase, on a \"bought deal\" private placement basis, 2,000,000 \"flow-through\" shares of the Company (the \"\n \n Charity FT Share\n \n \") at a price of\n \n $7.50\n \n per Charity FT Share (\"\n \n Offering Price\n \n \") for gross proceeds of\n \n $15,000,000\n \n (the \"\n \n Offering\n \n \"). Each Charity FT Share 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 )).\n \n \n \"We are pleased to see the increased interest in our Rogue Project following our initial results from the ongoing 2023 exploration season,\" said\n \n Scott Berdahl\n \n , CEO & Director of Snowline. \"This raise, which brings in funds at a significant premium to market, enhances our team's ability to systematically explore our Valley discovery, the broader Rogue Project, and additional targets on our extensive\n \n Yukon\n \n -focused exploration portfolio. Combined with our current treasury, we are well positioned to focus on building value through discovery for multiple drill seasons.\"\n \n \n The Underwriters will have the option, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering, to arrange for the purchase of up to that number of Charity FT Shares at the Offering Pri...