Gold Standard Ventures (GSV-V) Aug 13, '14 is pleased to announce that pursuant to its public offering of common shares announced on August 7, 2014, the Company has entered into an underwriting agreement with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including Loewen, Ondaatje, McCutcheon USA Limited, Tempest Capital Corp. and HC Wainwright & Co. LLC to purchase a total of 9,000,000 common shares of the Company at a price of US$0.64 per Common Share to raise gross proceeds of US$5,760,000.
The Company filed a final prospectus supplement to its short form base prospectus dated June 23, 2014 with the securities regulators in each of British Columbia, Alberta and Ontario (the "Canadian Securities Regulators") and a final prospectus supplement to a related registration statement on Form F-3 (Registration No. 333-196751) with the U.S. Securities and Exchange Commission (the “SEC”).
The Company has granted the Underwriters an over-allotment option to purchase additional Common Shares up to 15% of the Common Shares sold pursuant to the Offering. The over-allotment option will be exercisable for a period of 30 days from the date of filing of the final prospectus supplements for the Offering filed with the Canadian Securities Regulators and the SEC.
The Company intends to use the net proceeds of this Offering (after deduction of Underwriters’ commission and costs of issue) to fund ongoing exploration at its Railroad-Pinion Project as recommended in the Phase 1 work program of the Railroad-Pinion technical report dated March 31, 2014 and for general corporate and working capital purposes.
The Company has applied to list the Common Shares on the TSX Venture Exchange (the “TSXV”) and the NYSE MKT LLC (the “NYSE MKT”). Listing will be subject to the Company fulfilling all of the listing requirements of the TSXV and the NYSE MKT.
Closing of the Offering is anticipated to take place on August 19, 2014.
Copies of the final prospectus supplement and short form base prospectus as filed in each of British Columbia, Alberta and Ontario and the final prospectus supplement and Form F-3 registration statement as filed with the SEC may be obtained from:
Macquarie Capital Markets Canada Ltd.
Suite 3100 – Brookfield Place
181 Bay Street
Toronto, ON M5J 2T3
Attention: Linda Lang
Phone: +1 416 848 3603 |
