Offering also has C$500,010 greenshoe; Salman Partners is the agent
By Devika Patel
Knoxville, Tenn., July 19 - Gowest Gold Ltd. said it plans a C$3.2 million private placement of stock.
The company will sell 4,444,500 common shares at C$0.27 apiece, a 5.26% discount to the July 18 closing share price of C$0.285. It also will sell 6,666,700 flow-through common shares at C$0.30 apiece, a 5.26% premium to the July 18 closing share price.
The deal will be conducted on a best-efforts basis by Salman Partners Inc. The agent has a C$500,010 greenshoe, which will consist of flow-through common stock.
Settlement is expected Aug. 5.
Proceeds will be used to advance the company's Frankfield gold project and general corporate purposes.
The gold explorer is based in Toronto.
Issuer: | Gowest Gold Ltd.
|
Issue: | Common shares, flow-through common shares
|
Amount: | C$3,200,025
|
Greenshoe: | C$500,010
|
Warrants: | No
|
Agent: | Salman Partners Inc.
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Pricing date: | July 19
|
Settlement date: | Aug. 5
|
Stock symbol: | TSX Venture: GWA
|
Stock price: | C$0.285 at close July 18
|
Market capitalization: | C$27.71 million
|
|
Common stock
|
Amount: | C$1,200,015
|
Shares: | 4,444,500
|
Price: | C$0.27
|
|
Flow-through stock
|
Amount: | C$2,000,010
|
Shares: | 6,666,700
|
Price: | C$0.30
|
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