Toronto (pcJ News Breifs) – Barkerville Gold Mines Ltd. (TSX-V: BGM) has engaged Haywood Securities Inc. as lead underwriter for a bought deal private placement of 15,790,000 units at $0.95 per unit for gross proceeds of $15,000,500. (updated: size increased to 24,740,000 units for gross proceeds of $23,503,000)
Each unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant shall be exercisable to acquire one common share at a price per share of $1.30 for a period of 18 months.
Barkerville Gold Mines also intends to complete a concurrent non-brokered private placement of 16,657,962 units on the same terms and conditions to Osisko Gold Royalties Ltd. and Osisko Mining Inc. for gross proceeds of $15,825,064.
Net proceeds will be used for exploration and development of the company’s properties in British Columbia and for working capital and general corporate purposes.
The closing of the offering is expected to occur on or about May 16, 2017.
Barkerville Gold Mines is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. Barkerville’s mineral tenures cover 1,164 square kilometres along a strike length of 60 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia.
photo credit: Barkerville Gold Mines