Roxgold (ROG-V) Nov 4th 2014 is pleased to announce that it has closed its previously announced bought deal financing of 46.2 million units of Roxgold at a purchase price of $0.65 per Unit, for aggregate gross proceeds in the amount of approximately C$30 million. Each Unit consists of one common share of Roxgold and one-half of one common share purchase warrant, each full Warrant being exercisable to acquire one common share of Roxgold at a purchase price of $0.90 until February 4, 2016. The Financing was co-led by Cormark Securities Inc. and BMO Capital Markets and involved a syndicate which included Macquarie Capital Markets Canada Ltd., GMP Securities L.P., RBC Capital Markets, Haywood Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd.
The Company has also 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 net proceeds from the Financing will be used to advance the development of the Yaramoko Gold Project and for general corporate purposes.
Roxgold is also pleased to announce that the Burkina Faso Council of Ministers approved the issuance of the Yaramoko exploitation permit subject to the receipt of an official State Decree. This approval will allow Roxgold to progress the development of the Yaramoko Gold Project.
These securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.
About Roxgold
Roxgold is a gold exploration and development company with its key asset, the high grade, 100% owned Yaramoko Gold Project located in the Houndé greenstone region of Burkina Faso, West Africa. The Company is currently advancing Yaramoko's 55 Zone through permitting and, subject to making a positive construction decision, expects to commence development thereafter. Roxgold trades on the TSX Venture Exchange under the symbol ROG. |
