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PMI Gold Corporation Announces CAD100 Million Equity Financing


Wednesday, 10 Oct 2012 10:09am EDT 

PMI Gold Corporation announced that in connection with its previously announced overnight marketed public offering (Offering) of common shares (Common Shares), it has entered into an underwriting agreement with a syndicate of underwriters led by Clarus Securities Inc. and RBC Capital Markets as joint bookrunners and co-lead underwriters, and including Canaccord Genuity Corp., Euroz Securities Limited, GMP Securities L.P. and Raymond JamesLtd. (collectively, the Underwriters) to sell 119,050,000 Common Shares of the Company at a price of CAD0.84 per share for gross proceeds of CAD100,002,000. In addition, the Company has granted the Underwriters an over-allotment option to purchase up to that number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time up to 30 days after the closing of the Offering. The Company plans to use the net proceeds of the Offering to fund the development of the Company's Obotan Gold Project in accordance with its definitive feasibility study, for Ghana exploration activities and for general and administrative expenses. 

Company Quote

0.48
0.03 +6.67%
10 Feb 2014