Offering sells flow-through common shares and has C$500,000 greenshoe
By Devika Patel
Knoxville, Tenn., Dec. 20 - Gowest Amalgamated Resources Ltd. said it changed the amount it plans to raise through a private placement of stock. The best-efforts deal priced for C$2.5 million on Nov. 30 and will now raise C$2.08 million with a C$500,000 greenshoe through agent Salman Partners Inc.
The company is selling flow-through common shares at C$0.275 apiece. The price per share represents a 10% premium to the Nov. 29 closing share price of C$0.25.
Settlement is expected Dec. 22.
Proceeds will be used to explore the Frankfield gold project.
Based in Toronto, Gowest explores for gold in Ontario.
| Issuer: | Gowest Amalgamated Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2.08 million
|
| Greenshoe: | C$500,000
|
| Shares: | 9,381,818 (maximum, including greenshoe)
|
| Price: | C$0.275
|
| Warrants: | No
|
| Agent: | Salman Partners Inc.
|
| Pricing date: | Nov. 30
|
| Revised: | Dec. 20
|
| Settlement date: | Dec. 22
|
| Stock symbol: | TSX Venture: GWA
|
| Stock price: | C$0.25 at close Nov. 29
|
| Market capitalization: | C$21.32 million
|
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