Pure Gold Mining (PGM-V) Feb 20, '15 is pleased to announce that it has closed the bought-deal private placement previously announced on February 9, 2015.
Pursuant to the Offering, the Company issued a total of 13,836,478 flow-through common shares (the "Flow-Through Shares") and 3,187,143 common shares (the "Common Shares") at a price of C$0.35 per Flow-Through Share and C$0.28 per Common Share, for aggregate gross proceeds to Pure Gold of C$5,735,167. This included the partial exercise of the Underwriters' Option of 979,335 Flow-Through Shares and 330,000 Common Shares at a price of C$0.35 per Flow-Through Share and C$0.28 per Common Share.
The Offering was completed through a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and included Cormark Securities Inc. and Canaccord Genuity Corp. (together the "Underwriters"). In connection with the Offering, the Company paid the Underwriters a cash commission equal to 6.0% of the gross proceeds of the Offering. In addition, Pure Gold issued 892,858 common shares of the Company to MacLachlan Investment Corporation as an advisory and finder's fee.
The proceeds raised from the sale of the Common Shares will be used by the Company for exploration and development of the Company's Madsen Gold Project, as well as for working capital and for general corporate purposes. The proceeds raised from the sale of the Flow-Through Shares will be used by the Company to finance qualified Canadian exploration expenditures at its Madsen Gold Project. The Flow-Through Shares and Common Shares are subject to a hold period in Canada expiring on June 21, 2015.
The press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States or to a U.S. person absent registration or an applicable exemption from U.S. registration requirements. "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S. Securities Act.
ABOUT PURE GOLD
Our mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and creativity to unlock the next multi-million-ounce gold discovery at the Madsen Gold Project in Red Lake, Ontario. And become Canada's next iconic gold company.
Pure Gold Mining Inc.
Blaine Monaghan
Director, Investor Relations
604-646-8000 or Toll Free 1-877-632-4677
info@puregoldmining.ca
www.puregoldmining.ca |
