Volcanic Announces Upsize to Bought Deal Offering

About this update from Volcanic Gold Mines Inc.

[{"type":"text","content":"Volcanic Announces Upsize to Bought Deal Offering\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, Canada -\n \n \n TheNewswire -\n \n \n September 29,\n \n \n 2020 -\nVolcanic Gold Mines Inc. (TSXV:VG), (\"Volcanic\" or the\n\"Company\")\n \n \n is pleased\nto announce that it has amended the terms of its previously announced\noffering of units of the Company. Under the amended terms of the\nOffering (as defined below), Haywood Securities Inc., on behalf of a\nsyndicate of underwriters including Canaccord Genuity Corp.\n(collectively, the \"\n \n \n Underwriters\n \n \n \"), have agreed to purchase, on a bought deal basis,\n10,910,000\n \n \n units of the Company\n(the \"\n \n \n Units\n \n \n \"), at a price of\nC$0.55\n \n \n per Unit (the\n\"\n \n \n Offering\nPrice\n \n \n \") for gross proceeds\nto the Company of C$6,000,500 (the \"\n \n \n Offering\n \n \n \").\n \n \n \n \n Each Unit will consist of one common\nshare in the capital of the Company (a \"\n \n \n Common Share\n \n \n \") and one half of one Common Share\npurchase warrant (a \"\n \n \n Warrant\n \n \n \"). Each whole Warrant will entitle the holder thereof to\npurchase one Common Share (a \"\n \n \n Warrant Share\n \n \n \") at a price of C$0.70 for a period of 18 months following the\nClosing Date (as defined below).\n \n \n \n \n The Company will pay the Underwriters a\ncash commission of 6.0% of the gross proceeds of the Offering, subject\nto a reduced cash commission being payable on sales to certain members\nof the president's list (the \"\n \n \n Presidents List Sales\n \n \n \") and will issue to the Underwriters\nbroker warrants (the \"\n \n \n Broker Warrants\n \n \n \") exercisable at any time prior to the date that is 24 months\nafter the Closing Date at a price of C$0.55 per Broker Warrant to\npurchase such number of units (the \"\n \n \n Broker Units\n \n \n \") as is equal to 6% (reduced in the\ncase of President's List Sales) of the aggregate number of Units\nissued pursuant to the Offering, including on any proceeds realized on\nthe exercise of the Over-Allotment Option. Each Broker Unit will be\ncomprised of one Common Share (each, a \"\n \n \n Broker Share\n \n \n \") and one-half of one Common Share\npurchase warrant (each whole common share purchase warrant, an\n\"\n \n \n Underlying Broker Warrant\n \n \n \").\n \n \n \n \n In ...

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