Barkerville Gold Mines (BGM-V) April 26, '16 is pleased to announce that it has closed its previously announced bought deal private placement, led by Haywood Securities Inc. with a syndicate including Sprott Private Wealth L.P.
The Company issued an aggregate of 22,183,500 flow-through common shares (the "Flow Through Shares") at a price of $0.70 per Flow Through Share for aggregate gross proceeds of $15,528,450.
The Company paid the Underwriters a cash commission equal to 6% of the gross proceeds of the Offering, not including gross proceeds raised from investors on the president's list and issued an aggregate of 404,200 compensation options (the "Compensation Options") to the Underwriters. Each Compensation Option entitles the holder to acquire one common share of the Company at a price of $0.70 until April 26, 2018.
The Company intends to use the net proceeds from the Offering to incur Canadian exploration expenses that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") on its extensive property package encompassing the Cariboo Mining District and related properties in British Columbia. The Qualifying Expenditures will be renounced to the subscribers with an effective date no later than December 31, 2016.
The securities issued pursuant to the Offering will be subject to a statutory four month hold period.
The securities offered have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
For further information on Barkerville Gold Mines Ltd., please contact:
Tom Obradovich
President & Chief Executive Officer
(416) 361-2511
tobradovich@barkervillegold.com
Message 30469630 |
