Deals fund Commonwealth Silver and Gold Project, corporate purposes
By Devika Patel
Knoxville, Tenn., July 20 – Marlin Gold Mining Ltd. said on Tuesday that it has arranged a C$1 million brokered private placement of stock with a C$2 million greenshoe through underwriter Red Cloud Klondike Strike Inc. The company will also raise C$6.5 million in a non-brokered private placement with Wexford Spectrum Trading Ltd. and Wexford Catalyst Trading Ltd.
Marlin will sell 2 million common shares at C$0.50 each on a bought-deal basis in the brokered sale and 13 million shares in the non-brokered offering. The price per share is a 16.67% discount to C$0.60, the July 18 closing share price.
Wexford Spectrum will buy 10.4 million shares for C$10.7 million and Wexford Catalyst will buy 2.6 million shares for C$10.7 million.
Settlement of the non-brokered placement is expected July 26 and the brokered sale is expected to settle on Aug. 24.
Proceeds will be used to advance the Commonwealth Silver and Gold Project and for general corporate purposes.
Marlin is a gold miner based in Vancouver, B.C.
| Issuer: | Marlin Gold Mining Ltd.
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| Issue: | Common stock
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| Amount: | C$7.5 million
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| Greenshoe: | C$2 million, or 4 million shares
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| Shares: | 15 million
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| Price: | C$0.50
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| Warrants: | No
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| Underwriter: | Red Cloud Klondike Strike Inc. (for C$1 million), non-brokered (for C$6.5 million)
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| Investors: | Wexford Spectrum Trading Ltd. (for C$10.7 million) and Wexford Catalyst Trading Ltd. (for C$10.7 million)
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| Pricing date: | July 19
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| Settlement date: | July 26 (for C$6.5 million), Aug. 24 (for C$1 million)
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| Stock symbol: | TSX Venture: MLN
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| Stock price: | C$0.60 at close July 18
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| Market capitalization: | C$91.09 million
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