Corvus Gold Inc. (TSX: KOR) (OTCQX: CORVF) is pleased to announce that it has closed its previously announced bought deal financing, including the exercise in full of the underwriters’ over-allotment option. A total of 11,500,000 common shares of Corvus were sold at a price of C$2.00 per share, for aggregate gross proceeds to the Company of C$23,000,000. No warrants were issued in relation to this financing. The Offering was arranged by the sole underwriter, BMO Capital Markets. AngloGold Ashanti (USA) Inc. participated in the Offering on a pro-rata basis to maintain ownership of 19.9 percent of the issued and outstanding shares of Corvus. Approximately 80% of the Offering went to European and US institutions.
The Company intends to use the net proceeds of the Offering (i) for exploration expenditures at the Company’s North Bullfrog and Mother Lode properties and (ii) for corporate general and administrative expenses, land and permits.
The Company filed a prospectus supplement with the securities commissions in each of the provinces of British Columbia, Alberta and Ontario to supplement the Company’s Canadian short form base shelf prospectus dated February 15, 2019, and a prospectus supplement to the Company’s base shelf prospectus contained in the Company’s registration statement on Form S-3, effective February 19, 2019, with the United States Securities and Exchange Commission in connection with the Offering to which this communication relates. The Offering Documents contain important detailed information about the Offering.
Copies of the Offering Documents are available for free by visiting the Company’s profiles on SEDAR at www.sedar.com or EDGAR at www.sec.gov/edgar.shtml, as applicable.
Alternatively, a copy of the Offering Documents can be obtained by contacting BMO Capital Markets, Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by telephone at (905) 791-3151 Ext 4312 or by email at email@example.com. A copy of the prospectus supplement and base shelf prospectus relating to the Offering in the United States may be obtained by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036 (Attn: Equity Syndicate), or by telephone at (800) 414-3627 or by email at firstname.lastname@example.org.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of Common Shares in any state or province in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state, province, or other jurisdiction.
About Corvus Gold Inc.
Corvus Gold Inc. is a North American gold exploration and development company, focused on its near term gold-silver mining project at the North Bullfrog and Mother Lode Districts in Nevada. Corvus is committed to building shareholder value through new discoveries and the expansion of its projects to maximize share price leverage in an advancing gold and silver market.
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We acknowledge the [financial] support of the Government of Canada.