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Pure Gold Mining Inc. Announces Increase to Bought Deal Financing

Nachrichtenquelle: globenewswire
08.04.2021, 21:40  |  203   |   |   

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, British Columbia, April 08, 2021 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSXV:PGM) (“Pure Gold Mining Inc.” or the “Company”) is pleased to announce today that, due to strong demand, it has agreed with Clarus Securities Inc. (“Clarus”), as lead underwriter, on behalf of a syndicate of underwriters including Canaccord Genuity Corp., Sprott Capital Partners L.P., Stifel GMP, Haywood Securities Inc., and P.I. Financial Corp. (collectively, the “Underwriters”), to increase the size of it’s previously announced C$10,001,600 “bought deal” offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a bought deal basis, or alternatively to arrange for the purchase of, as agent for substituted purchasers, 9,868,400 flow-through common shares (the “Flow-Through Shares”) for aggregate gross proceeds of C$14,999,968 (the “Offering”). The Flow-Through Shares will be priced at $1.52 per Flow-Through Share. The Company has also granted to the Underwriters an over-allotment option to purchase an additional 1,480,300 Flow-Through Shares on the same terms as the Offering for a period ending 30 days following the closing of the Offering. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be C$17,250,024.

The Securities will be offered in the provinces of British Columbia, Alberta, and Ontario by short form prospectus.

The Offering is expected to close on May 5, 2021, subject to customary conditions and all regulatory approvals including the approval of the TSX Venture Exchange.

The gross proceeds raised from the Offering will be used by the Company to finance “Canadian development expenditures”, as defined in the Income Tax Act (Canada), on its property in Ontario.

ABOUT PURE GOLD MINING

PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold’s multi-million ounce high grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.

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Pure Gold Mining Inc. Announces Increase to Bought Deal Financing THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, April 08, 2021 (GLOBE NEWSWIRE) - Pure …

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