Deal funds 3 Aces and Brewery Creek projects, general working capital
By Devika Patel
Knoxville, Tenn., July 6 – Golden Predator Mining Corp. said it increased its private placement of units to C$16.7 million from C$13.8 million. The deal priced on June 27.
The company will now sell 10,547,945 units of one common share and one half-share warrant at C$0.73 per unit to Eric Sprott and 9 million flow-through units of one flow-through common share and one half-share warrant at C$1.00 per unit.
Each whole warrant is exercisable at C$1.00 for two years. The strike price is a 3.09% premium to the June 24 closing share price of C$0.97.
The deal will be conducted by a syndicate co-led by Clarus Securities Inc. and PowerOne Capital Markets Ltd. and including GMP Securities LP and Canaccord Genuity Group Inc.
Proceeds will be applied to the company’s 3 Aces and Brewery Creek projects and general working capital.
The copper, lead, zinc, silver and gold explorer is based in Vancouver, B.C.
| Issuer: | Golden Predator Mining Corp.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$16.7 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Agents: | Clarus Securities Inc. and PowerOne Capital Markets Ltd. (co-leads), GMP Securities LP and Canaccord Genuity Group Inc.
|
| Pricing date: | June 27
|
| Upsized: | July 6
|
| Stock symbol: | TSX Venture: GPY
|
| Stock price: | C$0.97 at close June 24
|
| Market capitalization: | C$36.11 million
|
|
|
| Units
|
| Amount: | C$7.7 million
|
| Units: | 10,547,945
|
| Price: | C$0.73
|
| Investor: | Eric Sprott
|
|
|
| Flow-through units
|
| Amount: | C$9 million
|
| Units: | 9 million
|
| Price: | C$1.00
|
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