trending Market Intelligence /marketintelligence/en/news-insights/trending/IZFkmr9PhN_Gi80s8h_nBA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Pure Gold upsizes bought-deal financing to C$18.3M

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020


Pure Gold upsizes bought-deal financing to C$18.3M

Pure Gold Mining Inc. revised an agreement with Macquarie Capital Markets Canada Ltd. and the rest of a syndicate of underwriters to upsize its previously reported bought-deal financing to C$18.3 million.

The company recently outlined plans for a three-tranche offering aiming to raise C$12.0 million, with closing anticipated by Nov. 1, subject to various approvals including that of the TSX Venture Exchange.

Pure Gold said Oct. 18 that it will now issue 8,690,000 super flow-through shares at 72.5 cents apiece in the first tranche, 7,813,000 flow-through shares at 64 cents apiece in the second tranche and 13,462,000 common shares at 52 cents apiece in the final tranche.

The company also granted the underwriters an overallotment option to acquire up to 2,172,500 additional super flow-through shares.

Pure Gold will use the super flow-through and flow-through proceeds for exploration, in line with Canadian tax laws, while proceeds from the third tranche of common shares are earmarked for exploration and development of its Madsen gold project in Ontario and for general working capital.