NexGen Energy (NXE-V) Oct 7, '14 has entered into an agreement with Cormark Securities Inc., on behalf of a syndicate of underwriters, to purchase 21.75 million flow-through shares of NexGen on a bought-deal private placement basis. The Flow-Through Shares shall be offered at a price of $0.46 per share for aggregate gross proceeds of approximately $10 million. In addition, the Company has granted the Underwriters an option to increase the size of the Offering by an additional 3,250,000 Flow-Through Shares, exercisable in whole or in part up to 2 days before closing of the Offering (the "Option"), which would increase the gross proceeds of the Offering to approximately $11.5 million.
The closing of the Offering is expected to occur on or about November 11, 2014 and is subject to the completion of formal documentation and receipt of regulatory approval, including the approval of the TSX Venture Exchange.
The proceeds received by the Company from the sale of the Flow-Through Shares will be used to incur Canadian exploration expenditures that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Corporation's properties in the Province of Saskatchewan, which will be renounced to the subscribers with an effective date no later than December 31, 2015, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of Flow-Through Shares.
In connection with the Offering, the Underwriters will receive a cash commission equal to 6.0% of the gross proceeds raised under the Offering (inclusive of the Option).
Leigh Curyer,
Chief Executive Officer
NexGen Energy Ltd. |
