Proceeds used for exploration, development of Golden Meadows Project
By Susanna Moon
Chicago, Feb. 14 - Midas Gold Corp. said it closed a C$40.43 million private placement of special warrants on Feb. 14, including the over-allotment option exercise for C$5.27 million more shares. The deal priced Jan. 24.
The company sold 9,085,000 special warrants, including a greenshoe for 1,185,000 special warrants, at C$4.45 on a bought-deal basis via a syndicate of underwriters led by Haywood Securities Inc. and including Macquarie Capital Markets Canada Ltd., BMO Capital Markets, RBC Capital Markets Inc. and Desjardins Securities Inc.
The price is a 6.51% discount to the Jan. 23 closing share price of C$4.76. The special warrants are convertible into common shares.
Proceeds will be used for exploration and development of the Golden Meadows Project in Idaho and general working capital.
Midas is a gold explorer in Vancouver, B.C.
| Issuer: | Midas Gold Corp.
|
| Issue: | Special warrants convertible into common shares
|
| Amount: | C$40,428,250 (includes C$5,273,250 greenshoe exercise)
|
| Special warrants: | 9,085,000
|
| Price: | C$4.45
|
| Warrants: | No
|
| Underwriters: | Haywood Securities Inc. (lead), Macquarie Capital Markets Canada Ltd., BMO Capital Markets, RBC Capital Markets Inc. and Desjardins Securities Inc.
|
| Pricing date: | Jan. 24
|
| Settlement date: | Feb. 14
|
| Stock symbol: | Toronto: MAX
|
| Stock price: | C$4.76 at close Jan. 23
|
| Market capitalization: | C$479.03 million
|
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