The Prospector News

Argonaut Gold Announces Closing of C$11.5 Million “Bought Deal” Private Placement of Flow-through Shares

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Argonaut Gold Announces Closing of C$11.5 Million “Bought Deal” Private Placement of Flow-through Shares

 

 

 

 

 

Argonaut Gold Inc. (TSX: AR) is pleased to announce that it has closed its previously announced “bought deal” private placement of an aggregate of 3,002,650 common shares in the capital of the Company that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) at a price of C$3.83 per Flow-Through Share for aggregate gross proceeds of C$11,500,149.50, including full exercise of the underwriters’ option. The Flow-Through Shares were offered and sold through a syndicate of underwriters led by Canaccord Genuity Corp.

 

The gross proceeds from the issue and sale of the Flow-Through Shares will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) related to the Company’s projects in Ontario on or before December 31, 2021. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective December 31, 2020.

 

The Offering was made by way of private placement in Canada pursuant to applicable exemptions from the prospectus requirements under applicable Canadian securities laws. The Flow-Through Shares issued under the Offering are subject to a hold period under applicable Canadian securities laws which will expire on February 15, 2021.

 

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

 

About Argonaut

 

Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production. Its primary assets are the El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico, the La Colorada mine in Sonora, Mexico and the Florida Canyon mine in Nevada, USA. Advanced exploration projects include the Magino project in Ontario, Canada, the Cerro del Gallo project in Guanajuato, Mexico and the Ana Paula project in Guerrero, Mexico. The Company holds several exploration stage projects, all of which are located in North America.

 

Posted October 14, 2020

Share this news article

MORE or "UNCATEGORIZED"


Barsele drill hole AVA20002 at the Avan Zone intersects 11.2 metres grading 5.36 g/t gold

Expansion drill hole AVA20001 cuts 2.0 metres grading 3.41 g/t go... READ MORE

October 28, 2020

Awalé Resources Intersects 13.1 grams per tonne Gold over 15 meters at the Empire Discovery, Odienné, Côte d'Ivoire

Awalé Resources Limited (TSX-V: ARIC)is pleased to report ... READ MORE

October 28, 2020

Blue Star Gold Drills 12.5 g/t over 7 Metres at the Flood Zone and 52.7 g/t over 2 Metres at the Gnu Zone on Its Ulu Gold Property

Blue Star Gold Corp. (TSX-V: BAU) (FSE: 5WP) announces additional... READ MORE

October 28, 2020

Surge Copper Closes $6,000,000 Non-Brokered Flow-Through Private Placement

Surge Copper Corp. (TSX-V: SURG), announces it has closed the non... READ MORE

October 28, 2020

Canadian Palladium Continues to Extend Mineralization

Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE... READ MORE

October 28, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions