Proceeds used for exploration, development of Golden Meadows Project
By Devika Patel
Knoxville, Tenn., Jan. 24 - Midas Gold Corp. said it plans a C$35.16 million private placement of special warrants. The deal has a C$5.27 million greenshoe.
The company will sell 7.9 million special warrants at C$4.45 each, which is a 6.51% discount to the Jan. 23 closing share price of C$4.76. The special warrants are convertible into common shares.
Settlement is expected Feb. 14.
The deal will be conducted by a syndicate of underwriters led by Haywood Securities Inc. and including Macquarie Capital Markets Canada Ltd., BMO Capital Markets, RBC Capital Markets Inc. and Desjardins Securities Inc. on a bought-deal basis.
Proceeds will be used for exploration and development of the Golden Meadows Project in Idaho and general working capital.
Midas is a gold explorer in Vancouver, B.C.
| Issuer: | Midas Gold Corp.
|
| Issue: | Special warrants convertible into common shares
|
| Amount: | C$35,155,000
|
| Greenshoe: | C$5,273,250
|
| Special warrants: | 7.9 million
|
| Price: | C$4.45
|
| Warrants: | No
|
| Underwriters: | Haywood Securities Inc. (lead), Macquarie Capital Markets Canada Ltd., BMO Capital Markets, RBC Capital Markets Inc. and Desjardins Securities Inc.
|
| Pricing date: | Jan. 24
|
| Settlement date: | Feb. 14
|
| Stock symbol: | Toronto: MAX
|
| Stock price: | C$4.76 at close Jan. 23
|
| Market capitalization: | C$479.03 million
|
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