GoGold Resources Inc. (TSX: GGD) is pleased to announce that it has closed its previously announced bought deal offering of 28,900,000 common shares at a price of C$2.25 per Common Share, for aggregate gross proceeds of approximately C$65 million. The Offering was led by BMO Capital Markets, along with a syndicate of underwriters including Desjardins Securities Inc., PI Financial Corp., Echelon Wealth Partners Inc., Eight Capital and Sprott Capital Partners LP.
The Underwriters were paid a commission of 5.5% on the gross proceeds of the Offering. The net proceeds of the Offering are intended to be used to support the continued advancement of the Company’s Los Ricos North and South projects. The Underwriters hold an option to purchase up to an additional 4,335,000 Common Shares at a price of C$2.25 per Common Share, exercisable in whole or in part, on or before March 10, 2023.
The Offering was completed by way of short form prospectus in each of the provinces of Canada, except Québec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions.
The securities offered in the Offering have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the “United States” (as such term is defined in Regulation S promulgated under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About GoGold Resources
GoGold Resources is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.
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