Argonaut Gold Announces Closing of C$40 Million Bought Deal Financing

http://www.marketwired.com/press-release/argonaut-gold-announces-closing-of-c40-million-bought-deal-financing-tsx-ar-2203054.htm

Argonaut Gold Inc. (TSX:AR) (“Argonaut Gold” or the “Company“) is pleased to announce that it has closed its previously announced “bought deal” public offering of 16,700,000 common shares of the Company (the “Common Shares“) at a price of C$2.40 per Common Share for aggregate gross proceeds of C$40,080,000 (the “Offering“). The Common Shares were offered and sold through a syndicate of underwriters led by BMO Capital Markets.

Under the terms of the Offering, the Company has also granted the underwriters an option, exercisable in whole or in part for a period of 30 days following the closing date of the Offering, to purchase up to an additional 2,505,000 Common Shares at a price of C$2.40 per Common Share for market stabilization purposes and to cover over-allotments, if any.

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