Business
Thesis Gold Announces Fully Subscribed Overnight Marketed $16 Million Public Offering
VANCOUVER, British Columbia, June 10, 2021 (GLOBE NEWSWIRE) -- Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) ("Thesis" or the "Company") is pleased to announce tod
About this update from Thesis Gold & Silver Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, June 10, 2021 (GLOBE NEWSWIRE) -- Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) (\"Thesis\" or the \"Company\") is pleased to announce today that its previously-announced overnight marketed offering (the “Offering”) of up to $16,000,000 is fully subscribed for total gross proceeds of $18,400,000, including the 15% agents’ option (the “Agents’ Option”) in respect of the Offering. The Offering will be for gross proceeds of $10,000,000 for common shares of the Company (the “Non-Flow Through Shares”) at a price of $1.50 per Non-Flow Through Share for the issuance of up to 6,666,666 Non-Flow Through Shares and gross proceeds of $6,000,000 for common shares of the Company which qualify as “flow-through shares” pursuant to the Income Tax Act (Canada) (the “Flow-Through Shares”) at a price of $1.75 per Flow-Through Share for the issuance of up to 3,428,571 Flow-Through Shares, for combined aggregate gross proceeds of $16,000,000. The Flow-Through Shares and the Non-Flow-Through Shares are together, the \"Offered Shares\". The Offering is being conducted through a syndicate of agents led by Clarus Securities Inc., and including Cormark Securities Inc., and P.I. Financial Corp (the \"Agents\"). There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The Company expects to: (i) pay the Agents a cash commission (the \"Agents' Fee\") representing 6% of the gross proceeds raised under the Offering, including any gross proceeds raised upon the exercise of the Over-Allotment Option; and (ii) issue to the Agents non-transferable broker warrants (each, a \"Broker Warrant\") entitling the Agents to acquire that number of Non-Flow-Through Shares equal to 6% of the total number of Offered Shares sold pursuant to the Offering (including the Agent’s Option). Each Broker Warrant will entitle the holder to acquire one Non-Flow-Through Shares at any time for a period of 18 months from the closing date of the Offering at an exercise price equal to the Non-Flow-Through Shares offering price. The Offering is expected to close on or about June 29, 2021, or such other date as the Company and the Agents may agree. Closing of the Offering is subject to customary closing conditions, including the receipt of all necessary regulatory approvals, such as the approval...