Business
Taurus Gold Closes Initial Public Offering and Announces Commencement of Trading on the Canadian Securities Exchange
Edmonton, Alberta--(Newsfile Corp. - September 14, 2022) - Taurus Gold Corp., ("Taurus" or the "Company") is pleased to announce that it has closed its initial
About this update from Taurus Gold Corp.
[{"type":"text","content":" Edmonton, Alberta--(Newsfile Corp. - September 14, 2022) - Taurus Gold Corp., (\"Taurus\" or the \"Company\") is pleased to announce that it has closed its initial public offering (\"IPO\") in which it issued 8,315,250 units (the \"Offered Units\") for total gross proceeds of $1,716,800. The Offered Units of 7,240,250 non flow-through units (\"Common Share Units\") sold at a price of $0.20 per Common Share Unit and 1,075,000 flow-through units (\"Flow-Through Units\") sold at a price of $0.25 per Flow-Through Unit includes 1,084,000 Common Share Units issued pursuant to the exercise of the over-allotment option by Canaccord Genuity Corp. (\"Canaccord\"), the agent for the Offering. Each Common Share Unit is comprised of one common share in the capital of the Company (\"Common Share\") and one half of one Common Share purchase warrant (each whole warrant, a \"Warrant\") entitling the holder to acquire one Common Share at a price of $0.35 per Common Share until September 14, 2024. Each Flow-Through Unit is comprised of one Common Share which qualifies as a \"flow-through share\" pursuant to the Income Tax Act, and one half of one Warrant. The Warrants were issued pursuant to a warrant indenture dated September 14, 2022 between the Company and its warrant agent. Canaccord received a cash commission fee equal to 8% of the gross proceeds from the sale of the Offered Units as well as a corporate finance fee in cash and 160,000 Common Share Units. In addition, Canaccord and its selling group members received 665,220 non-transferable unit purchase warrants (the \"Agent's Warrants\"), with each Agent's Warrant entitling the holder to acquire one Common Share Unit at the exercise price of $0.20 for a period of 24 months following the closing date. The Common Shares will begin trading effective at the market open on September 15, 2022 on the Canadian Securities Exchange (\"CSE\") under the symbol \"TAUR\". The Warrants will not be listed for trading. Directly following closing of the IPO, the Corporation issued an aggregate of 1,625,000 stock options to officers, directors and a consultant of the Company. The gross proceeds from the IPO will be used by the Company to complete its exploration program of the Charlotte Property located in the Mt. Nansen area in west-central Yukon Territory, Canada. More information about the Company, its exp...