Barkerville Gold Mines Ltd. said Dec. 15 that it entered into an agreement with Haywood Securities Inc. and Canaccord Genuity Corp., acting as co-lead underwriters, for a bought-deal private placement to raise up to C$10.0 million.
The underwriters agreed to purchase 10 million flow-through shares of the company at C$1.00 apiece.
The company also granted the underwriters an option to acquire up to an additional 1.5 million flow-through shares at the issue price for additional proceeds of C$1.5 million, exercisable 48 hours prior to closing.
Barkerville intends to use the proceeds for exploration expenses on its Cariboo gold project in central British Columbia.
The financing is expected to close by Dec. 28.
