Roxgold (ROG-V) Oct 14, '14 has entered into an agreement with a syndicate of investment dealers co-led by Cormark Securities Inc. and BMO Capital Markets and including Macquarie Capital Markets Canada Ltd., GMP Securities LP, RBC Capital Markets, Haywood Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd., which have agreed to purchase, on a bought-deal basis, 46.2 million units of Roxgold at a purchase price of 65 cents per unit, for aggregate gross proceeds in the amount of approximately $30-million. Each Unit will consist of one common share of Roxgold (a "Unit Share") and one-half of one common share purchase warrant (each full warrant, a "Warrant"), each full Warrant being exercisable to acquire one common share of Roxgold at a purchase price of $0.90 for a period of 15 months following the closing date.
In addition, the Company has granted the Underwriters an option to purchase up to an additional 6.93 million Units at the Offering Price exercisable within 30 days after the closing of the offering for additional gross proceeds in the amount of up to approximately $4.5 million.
The offering is scheduled to close on or about November 4, 2014 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 and the securities regulatory authorities.
The net proceeds from the offering will be used to advance development of the Yaramoko Gold Project and for general corporate purposes. |
