TD Securities is lead underwriter; funds will be used for exploration
By Devika Patel
Knoxville, Tenn., Nov. 19 – Lake Shore Gold Corp. said it will raise C$15.09 million in a private placement of shares through a syndicate of underwriters led by TD Securities Inc.
The company will sell 12.9 million flow-through common shares at C$1.17 apiece on a bought-deal basis. The price per share is an 8.33% premium to C$1.08, the closing share price on Nov. 18.
Settlement is expected Dec. 3.
Proceeds will be used for exploration.
Lake Shore is a gold producer based in Vancouver, B.C.
| Issuer: | Lake Shore Gold Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$15,093,000
|
| Shares: | 12.9 million
|
| Price: | C$1.17
|
| Warrants: | No
|
| Underwriter: | TD Securities Inc. (lead)
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 3
|
| Stock symbol: | Toronto: LSG
|
| Stock price: | C$1.08 at close Nov. 18
|
| Market capitalization: | C$437.57 million
|
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