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Shore Gold Announces Closing of Private Placement
Shore Gold Announces Closing of Private Placement Canada NewsWire SASKATOON, Dec...
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[{"type":"text","content":"\n\n\n\nShore Gold Announces Closing of 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\n\nCanada NewsWire\nSASKATOON, Dec. 21, 2017\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. 21, 2017 /CNW/ - Shore Gold Inc. (TSX:SGF) (\"Shore\") is pleased to announce the successful closing today of a $3.0 million private placement  of 7,894,736 Flow-Through Common Shares at a price of $0.19 per Flow-Through Common Share and 9,375,000 Units of the Company at a price of $0.16 per Unit (collectively, the \"Offering\"). Each Unit consists of one Common Share and one Common Share purchase warrant (\"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.20 for a period of 18 months from the date of issuance. \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, 2018. Shore will renounce the Qualifying Expenditures to subscribers of Flow-Through Common Shares for the fiscal year ended December 31, 2017.  The net proceeds of the Unit offering will be used by Shore for general working capital purposes. \n\nThe Company paid certain finders (each a \"Finder\") cash fees equal to 5% of the gross proceeds raised by such Finder pursuant to the Offering, and issued such Finder warrants equal to 5% of the number of Flow-Through Common Shares and Units attributable to such Finder pursuant to the Offering (the \"Finder's Warrants\"). The Company issued 519,737 in Finder's Warrants in relation to the Placement, exercisable at any time up to 12 months following the closing of the Offering at $0.20 per share. All securities issued pursuant to the Offering are subject to a four month hold period in accordance with applicable securities laws and exchange regulations. The Offering is subject to TSX acceptance of requisite regulatory filings.\n\nShore is a Canadian based corp...