Agent syndicate raises funds for acquisition of Pinion Gold Deposit
By Devika Patel
Knoxville, Tenn., March 5 - Gold Standard Ventures Corp. said it completed a C$10.94 million private placement of units. The deal priced for C$10 million with a 15% greenshoe on Feb. 6.
The company sold 15,188,495 units of one common share and one half-share warrant at C$0.72 per unit. Of the units, 1,299,605 were part of the greenshoe.
Each whole two-year warrant is exercisable at C$1.00, a 33.33% premium to the Feb. 5 closing share price of C$0.75.
Of the proceeds, C$9.98 million was raised on a best-efforts basis by a syndicate of agents, led by Macquarie Capital Markets Canada Ltd. and including Medalist Capital Ltd., TD Securities Inc. and National Bank Financial Inc.
Proceeds will be used for the company's planned acquisition of the Pinion Gold Deposit from Scorpio Gold Corp., for working capital and for general corporate purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Gold Standard Ventures Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$10,935,716, including C$935,716 greenshoe
|
| Units: | 15,188,495
|
| Price: | C$0.72
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Agent: | Macquarie Capital Markets Canada Ltd. (lead), Medalist Capital Ltd., TD Securities Inc. and National Bank Financial Inc. (for C$9,978,116)
|
| Pricing date: | Feb. 6
|
| Settlement date: | March 5
|
| Stock symbol: | TSX Venture: GSV
|
| Stock price: | C$0.75 at close Feb. 5
|
| Market capitalization: | C$68.82 million
|
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