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Troilus Announces Upsized Bought Deal Financing to $22 Million
Troilus Announces Upsized Bought Deal Financing to $22 Million Canada NewsWire &...
About this update from Troilus Mining Corp
[{"type":"text","content":"\n\n\n\nTroilus Announces Upsized Bought Deal Financing to $22 Million\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\n­­­­­­­­­­­TORONTO, June 2, 2020\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 THE UNITED STATES./\n ­­­­­­­­­­­TORONTO, June 2, 2020 /CNW/ - Troilus Gold Corp. (TSX:TLG; OTCQB:CHXMF) (\"Troilus\" or the \"Company\") is pleased to announce that in connection with its previously announced bought deal financing, the Company and Cormark Securities Inc., Laurentian Bank Securities Inc. and Stifel GMP, as co-lead underwriters, on behalf of a syndicate of underwriters (collectively the \"Underwriters\"), have agreed to increase the size of the previously announced financing. The Underwriters have agreed to purchase, on a bought deal basis, 21,000,000 units of the Company (the \"Units\") at a price of $1.05 per Unit for gross proceeds to the Company of approximately $22 million (the \"Offering\"). Each Unit will consist of one common share in the capital of the Company (each a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall entitle the holder to acquire an additional Common Share at a price of $1.50 for a period of 24 months following the closing of the Offering.\nThe Company has agreed to grant the Underwriters an option (the \"Over-Allotment Option\") to sell an additional 3,150,000 Units, such option being exercisable in whole or in part at any time prior to the date that is 30 days after the closing of the Offering, to cover over-allotments, if any, and for market stabilization purposes. In the event that the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering to Troilus will be approximately $25.36 million. \nThe C...