The Prospector News

Terraco Gold Closes $4.7M Private Placement with Wexford Funds

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

 

 

 

 

 

Terraco Gold Corp. (TSX-V: TEN) is pleased to announce that it has closed a previously announced non‑brokered private placement for total gross proceeds to the Company of CDN$4,717,183.

 

The Private Placement consisted of 36,286,021 common shares of the Company at a price of CDN$0.13 per common share, which were subscribed for by funds managed by Wexford Capital LP, as described in the Company’s news release of June 20, 2019. Following completion of the Private Placement, the Wexford Funds hold approximately 19.9% of the outstanding common shares of the Company on a non-diluted basis, subject to the Pre-emptive Right discussed below.  Additional common shares may be issued under the Private Placement to a third-party should it exercise its pre-emptive right to maintain its pro-rata interest in Terraco.

 

The TSX Venture Exchange has conditionally accepted the Private Placement.  Final acceptance of the Private Placement by the TSXV is subject to compliance with the customary requirements of the TSXV.

 

All securities issued under the Private Placement will be subject to a hold period of four months and one day from the closing date. The proceeds from the Private Placement will be used for working capital, corporate expenses and potential royalty transactions.

 

About Terraco

 

Terraco is a gold royalty company with a royalty portfolio of up to 3% NSR on the multi-million ounce Spring Valley Gold Project located in Pershing County, Nevada.

 

Posted July 9, 2019

Share this news article

MORE or "UNCATEGORIZED"


NioCorp Announces Closing of Up-Sized Private Placement for Gross Proceeds of C$6.2 Million

Offering Was Set at a Premium to the Share Price When Launched  ... READ MORE

May 11, 2021

Osisko Drilling Returns High Grade at Lynx

180 g/t Au Over 2.2 Metres 46.8 g/t Au Over 3.3 Metres Osi... READ MORE

May 11, 2021

C2C Gold Corp. Completes $2.63 Million Private Placement and Strategic Investment by Eric Sprott

C2C Gold Corp. (CSE: CTOC;) is pleased to announce that it has c... READ MORE

May 11, 2021

International Consolidated Uranium Acquires the High-Grade Matoush Uranium Project in Quebec, Canada

International Consolidated Uranium Inc. (TSX-V: CUR) is pleased... READ MORE

May 11, 2021

Endeavour Silver Reports Financial Results for the First Quarter 2021

Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) released its finan... READ MORE

May 11, 2021

Copyright 2021 The Prospector News