Non-brokered offering funds Commonwealth Silver and Gold acquisition
By Devika Patel
Knoxville, Tenn., May 20 – Marlin Gold Mining Ltd. said it completed an C$8.75 million non-brokered private placement of stock. The deal was announced on March 30 and priced for C$9.1 million on April 17.
The company sold 15,625,000 common shares at C$0.56 apiece, which is a 15.15% discount to the April 16 closing share price of C$0.66.
Wexford Spectrum Trading Ltd. bought 13,281,250 shares for C$7.44 million, and Wexford Catalyst Trading Ltd. bought 2,343,750 shares for C$1.31 million. The investors are private investment funds managed by Wexford Capital LP.
Proceeds will be used for the acquisition of Commonwealth Silver and Gold Mining Inc. and general corporate purposes.
Marlin is a gold miner based in Vancouver, B.C.
| Issuer: | Marlin Gold Mining Ltd.
|
| Issue: | Common shares
|
| Amount: | C$8.75 million
|
| Shares: | 15,625,000
|
| Price: | C$0.56
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investors: | Wexford Spectrum Trading Ltd. (for C$7,437,500), Wexford Catalyst Trading Ltd. (for C$1,312,500)
|
| Announcement date: | March 30
|
| Pricing date: | April 17
|
| Settlement date: | May 20
|
| Stock symbol: | TSX Venture: MLN
|
| Stock price: | C$0.66 at close April 16
|
| Market capitalization: | C$48.51 million
|
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