Proceeds to be used for exploration, general working capital purposes
By Devika Patel
Knoxville, Tenn., Nov. 19 - Marathon Gold Corp. said it will raise C$5 million in a private placement of units and stock. The deal, which has a C$500,000 greenshoe, will be conducted by lead agent Canaccord Genuity Corp.
The company will sell units of one common share and one half-share warrant at C$0.55 per unit. Each whole warrant is exercisable at C$0.75 for two years.
The company also will sell flow-through common shares at C$0.63 apiece.
The warrant strike price and price per share reflect 33.93% and 12.5% premiums to the Nov. 16 closing share price of C$0.56.
Settlement is expected Dec. 12.
Proceeds will be used for exploration and general working capital purposes.
The gold resource development company is based in Toronto.
| Issuer: | Marathon Gold Corp.
|
| Issue: | Flow-through common stock, units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Greenshoe: | C$500,000
|
| Agent: | Canaccord Genuity Corp. (lead)
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 12
|
| Stock symbol: | Toronto: MOZ
|
| Stock price: | C$0.56 at close Nov. 16
|
| Market capitalization: | C$27.83 million
|
|
|
| Units
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
|
|
| Shares
|
| Price: | C$0.63
|
| Warrants: | No
|
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