Alopex Gold Inc. has filed for an initial public offering for minimum gross proceeds of $5,000,000 to maximum gross proceeds of $10,000,000.
The offering is being made by Paradigm Capital Inc., acting as lead agent, and Canaccord Genuity Corp.
Blake, Cassels & Graydon LLP and Bennett Jones LLP are acting as legal counsel to Alopex Gold and the agents.
Toronto based Alopex Gold is a newly incorporated exploration stage company engaged in the identification, acquisition, exploration and development of gold properties in Greenland.
Upon completion of a proposed pre-IPO reorganization, Alopex Gold will indirectly hold, through its wholly-owned subsidiary Nalunaq A/S, an undivided 100% interest in the Nalunaq Property and the Tartoq Property. The Nalunaq Property is an advanced exploration gold property in Southern Greenland while the Tartoq Property is an early stage exploration gold property in Southwest Greenland.
FBC Holdings S.à r.l., indirectly through its subsidiary FBC Mining (Nalunaq) Limited and Vatnar S.à r.l., which will hold 33.3% and 16.4%, respectively, of the issued and outstanding shares, assuming the completion of the pre-IPO reorganization, have committed to purchase an aggregate of at least $500,000 worth of IPO shares.
The ultimate parent of FBC Holdings is Cyrus Capital Partners, LP, a New York and London based investment advisor who manages US $4.5 billion, focused on deep value and legal/process-oriented opportunities.
photo credit: Geological Survey of Denmark and Greenland