Deal offers 60 million common shares at C$0.50 each, a 5.66% discount
By Devika Patel
Knoxville, Tenn., Feb. 22 - Crocodile Gold Corp. said it will raise C$30 million in a private placement of stock via a syndicate of underwriters led by Dundee Securities Ltd. There is a 15% greenshoe.
The company will sell 60 million common shares at C$0.50 per share on a bought-deal basis. The price per share is a 5.66% discount to C$0.53, the Feb. 21 closing share price.
Settlement is expected on March 15.
Proceeds will be used for exploration and development of the company's gold assets in the Northern Territory of Australia and for general corporate purposes.
Crocodile is a gold explorer in Toronto.
| Issuer: | Crocodile Gold Corp.
|
| Issue: | Common stock
|
| Amount: | C$30 million
|
| Greenshoe: | 15%
|
| Shares: | 60 million
|
| Price: | C$0.50
|
| Warrants: | No
|
| Agent: | Dundee Securities Ltd. (lead)
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 15
|
| Stock symbol: | Toronto: CRK
|
| Stock price: | C$0.53 at close Feb. 21
|
| Market capitalization: | C$173.71 million
|
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