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Moneta Porcupine Announces Closing of $7.6 Million Bought Deal Private Placement
Moneta Porcupine Announces Closing of $7.6 Million Bought Deal Private Placement M...
About this update from Stllr Gold Inc.
[{"type":"text","content":"\n\n\n\nMoneta Porcupine Announces Closing of $7.6 Million 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\nMoneta Porcupine Announces Closing of $7.6 Million Bought Deal Private Placement\nCanada NewsWire\nTORONTO, Sept. 7, 2016\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nTORONTO, Sept. 7, 2016 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (the \"Company\") is pleased to announce the closing of its previously announced bought deal private placement (the \"Offering\"), co-led by Cormark Securities Inc. and Sprott Private Wealth LP (the \"Underwriters\").  \n\nPursuant to the Offering, the Company issued 15,190,000 flow-through units (the \"FT Units\") at a price of $0.395 per FT Unit and 2,714,431 units (\"Units\") at a price of $0.30 per Unit in the capital of the Company for aggregate gross proceeds to the Company of approximately $7.6 million. As part of the Offering, the Underwriters exercised their over-allotment option and purchased an additional 2,025,335 FT Units (the \"Option\").  Each Unit consisted of one common share (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\").  Each FT Unit consisted of one flow-through common share (a \"Flow-Through Share\") and one Warrant exercisable into one Common Share at a price of $0.42 for twenty four months.  \n\nThe net proceeds from the sale of the Units and FT Units will be used to fund the exploration of the Company's mineral properties in Ontario, Canada and for general corporate and working capital purposes. The gross proceeds received by the Company from the sale of the FT Units, inclusive of the Option, will be used to incur Canadian Exploration Expenses, as defined in the Income Tax Act (Canada), on the Company's properties in Ontario and will be renounced to the subscribers with an effective date of December 31, 2016.  \n\nThe securities issued pursuant to the Offering are subject to a standard four month regulatory hold perio...