Argonaut Gold Inc. Announces C$40 MILLION Bougth Deal Financing

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1033-tsx/ar/29636-argonaut-gold-inc-announces-c-40-million-bought-deal-financing.html

Toronto, Ontario (February 23, 2017) – Argonaut Gold Inc. (“Argonaut” or the “Company”) has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 16,700,000 common shares (the “Common Shares”), at a price of C$2.40 per Common Share for gross proceeds of approximately C$40 million (the “Offering”). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The offering is expected to close on or about March 15, 2017 and is subject to Argonaut Gold Inc. receiving all necessary regulatory approvals. The net proceeds of the offering will be used for the acquisition of properties adjacent to the El Castillo Mine and for general corporate purposes.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s