trending Market Intelligence /marketintelligence/en/news-insights/trending/tlgBc93grLYG0XFqQx7wTQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Golden Queen upsizes financing to C$14M

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


Golden Queen upsizes financing to C$14M

Golden QueenMining Co. Ltd. said July 18 that it signed a formal underwritingagreement, replacing the existing binding agreement with a syndicate ofinvestment dealers led by Cormark Securities Inc., to increase the size of itspreviously announcedfinancing to C$14 million from C$13 million.

Pursuant to the agreement, the underwriters agreed to purchase,on a bought-deal basis, 9,670,000 Golden Queen units at C$1.45 apiece.

Each unit comprises 1 common share and 0.5 of a sharepurchase warrant, with a whole warrant exercisable for 1 common Golden Queenshare at C$2.00 for a 36-month period after closing.

The miner also granted the underwriters the option topurchase an additional 1,450,000 units at the same offering price.

If the option is fully exercised, the company will raiseaggregate gross proceeds of C$16.1 million.

Golden Queen plans to use the proceeds as partial repaymentfor loans due in December and for general corporate purposes.

The financing is expected to close by July 25, subject toapprovals.