Proceeds to be used for exploration, general working capital purposes
By Devika Patel
Knoxville, Tenn., Dec. 12 - Marathon Gold Corp. said it settled a C$5.45 million private placement of units and stock. The deal, which priced for C$5 million with a C$500,000 greenshoe on Nov. 19, was conducted by lead agent Canaccord Genuity Corp. and Haywood Securities Inc. and Fraser Mackenzie Ltd.
The company sold 5,474,500 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 sold 3,873,000 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.
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$5,450,965 (including C$450,965 greenshoe)
|
| Agent: | Canaccord Genuity Corp. (lead), Haywood Securities Inc. and Fraser Mackenzie Ltd.
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 12
|
| Stock symbol: | Toronto: MOZ
|
| Stock price: | C$0.56 at close Nov. 16
|
| Market capitalization: | C$30.86 million
|
|
|
| Units
|
| Amount: | C$3,010,975
|
| Units: | 5,474,500
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
|
|
| Shares
|
| Amount: | C$2,439,990
|
| Shares: | 3,873,000
|
| Price: | C$0.63
|
| Warrants: | No
|
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