Business
Spartan Delta Corp. Announces Completion of $45.0 Million Bought Deal Financing
Spartan Delta Corp. Announces Completion of $45.0 Million Bought Deal Financing ...
About this update from Spartan Delta Corp
[{"type":"text","content":"\n \n \n \n Spartan Delta Corp. Announces Completion of $45.0 Million Bought Deal Financing\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 IN\n \n THE UNITED STATES\n \n . ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./\n \n \n \n \n CALGARY, AB\n \n ,\n \n March 8, 2021\n \n /CNW/ -\n \n Spartan Delta Corp.\n \n (\"\n \n Spartan\n \n \" or the \"\n \n Company\n \n \") (TSXV: SDE); (TSXV: SDE.R) is pleased to announce it has closed its previously announced bought deal public offering of 11,250,000 subscription receipts (the \"\n \n Subscription Receipts\n \n \") at a price of\n \n $4.00\n \n per Subscription Receipt for aggregate gross proceeds of\n \n $45.0 million\n \n (the \"\n \n Prospectus Offering\n \n \"). The syndicate of underwriters for the Prospectus Offering was led by National Bank Financial Inc. and included Eight Capital, Stifel Nicolaus Canada Inc., TD Securities Inc., Scotia Capital Inc. and Peters & Co. Limited.\n \n \n Each Subscription Receipt represents the right to receive, without payment of additional consideration or further action on the part of the holder thereof, one common share of Spartan (a \"\n \n Common Share\n \n \") upon the completion of: (a) the previously announced acquisition of all of the issued and outstanding common shares of Inception Exploration Ltd. (the \"\n \n Acquisition\n \n \"); and (b) a non-brokered private placement of Common Shares and Common Shares to be issued on a \"CDE\" flow-through basis for aggregate gross proceeds of not less than\n \n $75.56 million\n \n (the \"\n \n Private Placement\n \n \"). Closing of the Acquisition and the Private Placement are expected to occur on or about\n \n March 18, 2021\n \n .\n \n \n The gross proceeds from the sale of Subscription Receipts have been placed in escrow pending the completion of the Acquisition and the Private Placement. If the Acquisition and Private Placement are completed at or before\n \n 5:00 p.m.\n \n (\n \n ...