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Marlin Gold looks to raise C$13.0M via rights issue


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Essential Metals & Mining Insights - January 2021

Industry Top Trends 2021: Metals and Mining

Marlin Gold looks to raise C$13.0M via rights issue

Marlin Gold MiningLtd. said April 8 that it is looking to raise gross proceeds of aboutC$13.0 million via a rights issue on the basis of 1 right for each common shareheld.

The company intends to use the net proceeds of the rights offeringfor the removal of waste at the LaTrinidad gold mine in Mexico, option payments for the gold project in Arizona,the purchase of land and claims, and general working capital.

Each right will entitle the holder to subscribe for 0.3752 ofa Marlin share by paying 30 cents per share.

In connection with the offering, Marlin has entered into a standbypurchase agreement with its largest shareholders, Wexford Spectrum Trading Ltd.and Wexford Catalyst Trading Ltd., which will exercise their basic subscriptionright to purchase all shares not acquired under the offering.

The standby purchasers, which own 80.34% of the company, canraise their ownership to 85.70% following the offering.