By Sheri Kasprzak
Atlanta, March 16 – Lake Shore Gold Corp. has upsized its previously announced C$6,006,500 private placement to C$8,006,500.
The company will now sell 5.27 million flow-through shares at C$0.95 each and 3.75 million non flow-through shares at C$0.80 each.
The deal is being placed through a syndicate of underwriters led by Haywood Securities Inc. and including Raymond James Ltd.
The offering was first announced Wednesday morning as including 5.27 million flow-through shares at C$0.95 each and 1.25 million non flow-through shares at C$0.80 each for proceeds of C$6,006,500.
The offering is expected to close March 31.
Vancouver, B.C.-based Lake Shore is a gold and base metals exploration company. It plans to use the proceeds for ongoing exploration and development programs and working capital.
| Issuer: | Lake Shore Gold Corp.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$8,006,500
|
| Underwriters: | Haywood Securities Inc. (lead); Raymond James Ltd.
|
| Pricing date: | March 16
|
| Settlement date: | March 31
|
| Stock price: | C$0.80 at close March 15
|
|
|
| Flow-through shares
|
| Issue: | Flow-through shares
|
| Shares: | 5.27 million
|
| Price: | C$0.95
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Issue: | Common shares
|
| Shares: | 3.75 million
|
| Price: | C$0.80
|
| Warrants: | No
|
|
|
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