Leagold Announces Closing of C$175M Subscription Receipt Offering

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2068-tsx-venture/lmc/30126-leagold-announces-closing-of-c-175m-subscription-receipt-offering.html

VANCOUVER, March 8, 2017 /CNW/ – Leagold Mining Corporation (TSX-V: LMC) (“Leagold” or the “Company”) is pleased to announce today that it has completed its previously announced offering of 63,640,000 subscription receipts (the “Subscription Receipt Offering”) at an issue price of C$2.75 per subscription receipt for aggregate gross proceeds of C$175,010,000.  The net proceeds of the Subscription Receipt Offering will be used to fund a portion of the purchase price to acquire the Los Filos gold mine from Goldcorp Inc., as previously announced, and will be held in escrow pending completion of the acquisition.  Leagold is continuing to progress the other elements of its financing plan to fund the Los Filos acquisition, namely the US$150 million five-year term loan and US$50 million equity private placement which is intended to be undertaken at an issue price of C$2.75 per common share, as previously announced.

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