Deal sells 69 million common shares at C$0.50 each, a 5.66% discount
By Devika Patel
Knoxville, Tenn., March 15 - Crocodile Gold Corp. said it conducted a C$34.5 million private placement of stock through a syndicate of underwriters led by Dundee Securities Ltd. and including Cormark Securities Inc., GMP Securities LP and Raymond James Ltd. The deal priced for C$30 million with a 15% greenshoe on Feb. 22.
The company sold 69 million common shares at C$0.50 per share on a bought-deal basis. Of the shares, 9 million were part of the fully exercised greenshoe. The price per share is a 5.66% discount to C$0.53, the Feb. 21 closing share price.
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$34.5 million (including C$4.5 million greenshoe)
|
| Shares: | 69 million
|
| Price: | C$0.50
|
| Warrants: | No
|
| Agents: | Dundee Securities Ltd. (lead), Cormark Securities Inc., GMP Securities LP and Raymond James Ltd.
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 15
|
| Stock symbol: | Toronto: CRK
|
| Stock price: | C$0.53 at close Feb. 21
|
| Market capitalization: | C$158.2 million
|
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