Pure Gold Mining closes $13.2M FT bought deal

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By Ted Liu

Pure Gold Mining Inc. (TSX-V: PGM) has closed previously announced bought-deal private placement of 17,600,000 flow-through common shares at a price of C$0.75 per FT share for aggregate gross proceeds of C$13,200,000.

The offering was completed through a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and included Haywood Securities Inc., Canaccord Genuity Corp., Beacon Securities Limited, Cormark Securities Inc. and Raymond James Ltd.

Proceeds raised will be used to fund surface exploration in the Province of Ontario that will qualify as “Canadian exploration expenses” and “flow-through mining expenditures” for purposes of the Income Tax Act (Canada) and as “eligible Ontario exploration expenditures” within the meaning of the Taxation Act, 2007 (Ontario).

photo credit: Pure Gold Mining