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Moneta Gold Announces C$10 Million Bought Deal Private Placement of Flow Through Shares
Moneta Gold Announces C$10 Million Bought Deal Private Placement of Flow Through Shares ...
About this update from Stllr Gold Inc.
[{"type":"text","content":"\n \n \n \n Moneta Gold Announces C$10 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 /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n ./\n \n \n Symbol: TSX: ME\n \n \n \n \n TORONTO\n \n \n ,\n \n \n July 28, 2022\n \n \n /CNW/ -\n \n Moneta Gold Inc.\n \n (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) (\"Moneta Gold\" or the \"Company\") is pleased to announce that it has entered into an agreement with Stifel GMP to act as lead underwriter for and behalf of a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \"), in connection with a \"bought deal\" private placement offering for aggregate gross proceeds of approximately\n \n C$10\n \n .08 million consisting of 4,200,000 common shares of the Company that qualify as \"flow through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (\n \n Canada\n \n )) (the \"\n \n Flow Through Shares\n \n \") at a price of\n \n C$2.40\n \n per Flow Through Share for aggregate gross proceeds of\n \n C$10,000,000\n \n (the \"\n \n Offering\n \n \"). In addition, the Company has granted the Underwriters an option to purchase 1,008,000 additional Flow Through Shares on the terms described above for additional aggregate gross proceeds of up to approximately\n \n C$2,016,000\n \n , exercisable up to 48 hours prior to the closing of the Offering.\n \n \n The gross proceeds from the Offering will be used to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\", as both terms are defined in the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the\n \n \"Qualifying Expenditures\"\n \n ) related to the Company's Tower Gold project in\n \n Ontario\n \n on or before\n \n December 31, 2023\n \n and shall renounce the Qualifying Expenditures to the purchasers of the Flow Through Sha...