St. James Gold Corp. Upsizes Brokered Private Placement To $5.5 Million

About this update from St. James Gold Corp

[{"type":"text","content":" Vancouver, British Columbia, Aug. 24, 2021 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that, further to its August 5, 2021 press release and due to investor demand, it has upsized its private placement by $1,500,000, for aggregate gross proceeds of up to $5,500,000. The Company has amended its agreement with Canaccord Genuity Corp. as lead agent (the “Lead Agent”) such that the Lead Agent will offer on a commercially reasonable efforts brokered private placement basis: (i) up to 931,667 units of the Company (each, a “Unit”) at a price of $3.22 per Unit; and (ii) up to 647,668 flow-through units of the Company (each, a “FT Unit”) at a price of $3.86 per FT Unit, for aggregate gross proceeds to the Company of up to $5,500,000 (the “Offering”). Each Unit shall be comprised of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder thereof to purchase one additional Common Share at an exercise price of $4.18 for a period of three (3) years from the Closing Date (as defined below). Each FT Unit shall be comprised of one Common Share (each, a “FT Share”) and one Warrant, each of which will qualify as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”), with each Warrant entitling the holder thereof to purchase one additional Common Share, which will not qualify as a “flow-through share”, at an exercise price of $4.18 for a period of three (3) years from the Closing Date. The Offering will be conducted pursuant to the terms of an agency agreement to be entered into between the Company and the Lead Agent on or prior to the Closing Date. The Company has agreed to pay the Lead Agent a cash fee equal to 6.0% of the gross proceeds of the Offering and to issue that number of broker warrants equal to 6.0% of the combined number of Units and FT Units sold under the Offering (each a “Broker Warrant”). Each Broker Warrant will be exercisable to purchase one Unit for a period of three (3) years from the Closing Date at an exercise price of $3.22. In addition, the Company has agreed to pay the Lead Agent a corporate finance fee payable in Units and equal to 2.0% of the combined number of Units and FT Units sold...

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