What PM Juniors are able to raise money in THIS environment? jeez. ...... .............. .........
What does it mean if they can, then INCREASE the offer?
Roxgold Inc. Announces an Increased Size of the Previously Announced Bought Deal Private Placement
TORONTO, ONTARIO - July 15, 2013 - Roxgold Inc. (TSX.V:ROG) (the "Company") is pleased to announce that it has agreed with a syndicate of underwriters led by Cormark Securities Inc. and including Macquarie Capital Markets Canada Ltd., Toll Cross Securities Inc., GMP Securities L.P., Jennings Capital Inc., and Raymond James Limited (collectively the "Underwriters") to increase the size of the bought deal private placement of common shares, announced on July 12, 2013, by 625,000 common shares ($250,000) to 25,625,000 common shares ("Common Shares") of the Company at a price of $0.40 per Common Share, for aggregate gross proceeds of $10,250,000.
The Company will pay the Underwriters a cash commission equal to 5.0% of the gross proceeds of the offering. Closing of the offering is anticipated to occur, as previously announced, on or before August 1, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
The Company intends to use the net proceeds of the offering to advance the Yaramoko Permit and further exploration at the property as well as for general working capital purposes.
The Common Shares to be issued in connection with the Offering will be subject to a four-month hold period.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States unless registered under the U.S. Securities Act or unless an exemption from registration is available. |
