Offering also has C$500,010 greenshoe; Salman Partners is the agent
By Devika Patel
Knoxville, Tenn., July 19 - Gowest Gold Ltd. said it plans a C$3.2 million private placement of stock.
The company will sell 4,444,500 common shares at C$0.27 apiece, a 5.26% discount to the July 18 closing share price of C$0.285. It also will sell 6,666,700 flow-through common shares at C$0.30 apiece, a 5.26% premium to the July 18 closing share price.
The deal will be conducted on a best-efforts basis by Salman Partners Inc. The agent has a C$500,010 greenshoe, which will consist of flow-through common stock.
Settlement is expected Aug. 5.
Proceeds will be used to advance the company's Frankfield gold project and general corporate purposes.
The gold explorer is based in Toronto.
| Issuer: | Gowest Gold Ltd.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$3,200,025
|
| Greenshoe: | C$500,010
|
| Warrants: | No
|
| Agent: | Salman Partners Inc.
|
| Pricing date: | July 19
|
| Settlement date: | Aug. 5
|
| Stock symbol: | TSX Venture: GWA
|
| Stock price: | C$0.285 at close July 18
|
| Market capitalization: | C$27.71 million
|
|
|
| Common stock
|
| Amount: | C$1,200,015
|
| Shares: | 4,444,500
|
| Price: | C$0.27
|
|
|
| Flow-through stock
|
| Amount: | C$2,000,010
|
| Shares: | 6,666,700
|
| Price: | C$0.30
|
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