Pilot Gold (PLG-T) Nov 16, '16 is pleased to announce that it has closed its previously announced bought deal financing for aggregate gross proceeds of C$14,421,000 (the "Offering").
Co-lead underwriters RBC Capital Markets and National Bank Financial Inc., along with Canaccord Genuity Corp, CIBC World Markets Inc., Haywood Securities Inc. and Macquarie Capital Markets Canada Ltd. (collectively, the "Underwriters") purchased, on a bought deal basis, 20,900,000 units of the Company (the "Units") at a price of C$0.60 per Unit (the "Issue Price") for gross proceeds to the Company of C$12,540,000. The underwriters also exercised the over-allotment option in full and purchased an additional 3,135,000 Units to cover over-allotments for additional gross proceeds to the Company of C$1,881,000. Each Unit consists of one common share of Pilot Gold (each, a "Common Share") and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of C$0.90 at any time prior to May 16, 2019.
The net proceeds of the Offering will be used to fund exploration and development of Pilot Gold's southwest United States gold and precious metal exploration portfolio, focused on the Goldstrike project in Utah, as well as the Black Pine project in Idaho, the Kinsley deposit in Nevada and for general working capital purposes.
Pilot Gold's SEDAR profile at http://www.sedar.com.
Pilot Gold Inc.
John Wenger
Chief Financial Officer
604-632-4677 or Toll Free 1-877-632-4677
info@pilotgold.com
www.pilotgold.com |
