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Provider: Reuters Investment Profile
Provider: Edison Investment Research

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Edgewater Exploration Ltd Announces $5 Million Bought Deal Private Placement

Monday, 21 Jan 2013 04:53pm EST 

Edgewater Exploration Ltd announced that it has entered into an agreement with a syndicate of underwriters co-led by Cormark Securities Inc. and Fraser Mackenzie Limited (collectively the Underwriters) pursuant to which the Underwriters have agreed to purchase 11,112,000 common shares (Common Shares) of the Company on a bought deal private placement basis at a price of $0.45 per Common Share (the Offering). The Underwriters were also granted an option to increase the Offering size by up to an additional 2,778,000 Common Shares, which would increase the total deal size to approximately $6.25 million, if exercised in full. The Company will pay the Underwriters a cash commission equal to 6% of the gross proceeds of the Offering as well as broker warrants equal to 6% of the Common Shares sold under the Offering exercisable for a 24 month period. The Offering is scheduled to close on or about February 13, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The net proceeds of the Offering will be for continued advancement of the Company's Corcoesto Gold Project in Spain and for general working capital purposes. 

Company Quote

19 Dec 2014