Pure Gold Mining Inc. Closes Bought Deal Offering for Gross Proceeds of C$23 Million
28 Septiembre 2021 - 8:03AM
Pure Gold Mining Inc. (TSXV:PGM LSE:PUR)
(“
PureGold” or the “
Company”) is
pleased to announce that it has closed its previously announced
bought deal offering of 21,905,200 units of the Company
(“
Units”) at a price of C$1.05 per Unit for gross
proceeds to the Company of C$23,000,460, which includes the full
exercise of the underwriters’ over-allotment option for an
additional 2,857,200 Units (the “
Offering”). Each
Unit is comprised of one common share (each a “
Common
Share”) and one-half Common Share purchase warrant (each
such full warrant, a “
Warrant”). Each Warrant will
entitle the holder thereof to purchase one Common Share at a price
of C$1.36 until March 28, 2023.
The Offering was completed pursuant to an
underwriting agreement dated September 14, 2021 entered into among
the Company and a syndicate of underwriters led by National Bank
Financial Inc., and including Clarus Securities Inc., Desjardins
Securities Inc., Stifel Nicolaus Canada Inc., Haywood Securities
Inc., PI Financial Corp. and Sprott Capital Partners LP.
The Company intends to use the net proceeds
raised from the Offering to fund the continued ramp up of
operations at its 100%-owned PureGold Mine Project located in Red
Lake, Ontario, underground drilling and development of the
high-grade 8 zone, and for general corporate purposes.
The Company filed a short form prospectus dated
September 21, 2021 (the “Prospectus”) in all the
provinces of Canada, other than Quebec, pursuant to National
Instrument 44-101 — Short Form Prospectus Distributions to qualify
for distribution the Units offered pursuant to the Offering. Copies
of the Prospectus and documents incorporated by reference therein
are available electronically on SEDAR (www.sedar.com) under
PureGold’s issuer profile.
The securities offered have not been, and will
not be, 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 or to, or for the account or benefit of, United States
persons absent registration or any 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 PURE GOLD MINING INC.
PureGold is a growth company, located in the
very heart of Red Lake, Canada. Our objective is pure and simple.
To develop a highly-profitable long life gold mining company,
becoming Canada’s next iconic gold producer. Our plan is very
disciplined, very methodical and financially sound. To expand
organically, and develop PureGold’s multi-million ounce high grade
gold asset incrementally, step-by-step, using a phased mining
development plan to deliver maximum return.
ON BEHALF OF THE BOARD"Darin Labrenz"
Darin Labrenz, President & CEO
For further information:Adrian
O’BrienDirector, Marketing and
Communications604-809-6890aobrien@puregoldmining.ca
Forward-Looking Information
This news release contains "forward-looking
information" which may include, but is not limited to, statements
with respect to the future financial or operating performance of
the Company and its projects, and the anticipated use of proceeds
from the Offering. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or variations
(including negative variations) of such words and phrases, or state
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Forward-looking statements
contained herein are made as of the date of this press release and
the Company disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or results or otherwise. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. The Company undertakes no
obligation to update forward-looking statements if circumstances,
management's estimates or opinions should change, except as
required by securities legislation. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements.
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