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Shore Gold announces closing of bought deal private placement
Shore Gold announces closing of bought deal private placement Shore Gold announces...
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[{"type":"text","content":"\n\n\n\nShore Gold announces closing of bought deal private placement\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\nShore Gold announces closing of bought deal private placement\nCanada NewsWire\nSASKATOON, Dec. 30, 2015\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWS WIRE SERVICES/ \n\nStock Symbol: SGF: TSX\n\n\n\nSASKATOON, Dec. 30, 2015 /CNW/ - Shore Gold Inc. (TSX:SGF) (\"Shore\") is pleased to announce the successful closing today of Shore's private placement (the \"Offering\"), on a bought deal basis, of 11,468,750 Flow-Through Common Shares at a price of $0.23 per Flow-Through Common Share and 3,685,000 Common Shares at a price of $0.19 per Common Share, for aggregate gross proceeds of $3,337,962.50. \n\nCanaccord Genuity Corp. acted as underwriter (the \"Underwriter\") in connection with the Offering.\n\nThe proceeds from the sale of the Flow-Through Common Shares will be used by Shore to incur Canadian exploration expenses (\"Qualifying Expenditures\") prior to December 31, 2016. Shore will renounce the Qualifying Expenditures to subscribers of Flow-Through Common Shares for the fiscal year ended December 31, 2015.  The net proceeds of the Common Share offering will be used by Shore for general working capital purposes. The Underwriter received a cash commission of 6.0% of the gross proceeds raised in the Offering as well as warrants to purchase a number of common shares equal to 6% of the aggregate number of Flow-Through Common Shares and Common Shares issued pursuant to the Offering exercisable at any time up to 18 months following the closing of the Offering at $0.23 per share. In connection with the Offering, an individual who is both a director and senior officer of the Company, directly and indirectly, completed a share swap whereby the individual sold 3,685,000 common shares from his personal holdings in pre-arranged trades over the facilities of the Toronto Stock Exchange and used the funds from the sale to subscribe for a corresponding number of common shares under the Offering. Th...