- Cabral Gold has closed its bought deal prospectus offering
- The company sold a total of 21,298,000 units, including the exercise in full of the underwriters’ over-allotment option for gross proceeds of $11,500,920
- The offering was led by Cormark Securities Inc. as lead underwriter and sole bookrunner
- Units were offered by way of a short form prospectus filed in British Columbia, Alberta and Ontario, and on a private placement basis in the United States
- Net proceeds will be used for the advancement of the company’s Cuiú Cuiú Project and for working capital
- Cabral Gold is a junior resource company engaged in the exploration and development of mineral properties
- Cabral Gold Inc. (CBR) opened trading at C$0.52 per share
Cabral Gold has closed its bought deal prospectus offering.
The company sold a total of 21,298,000 units, including the exercise in full of the underwriters’ over-allotment option, at a price of $0.54 per unit for gross proceeds of $11,500,920.
Each unit includes one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share at a price of $0.80 until July 6, 2023.
The offering was led by Cormark Securities Inc. as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Stifel Nicolaus Canada Inc., Paradigm Capital Inc., and Research Capital Corporation. Cabral Gold paid the Underwriters a cash commission of $562,852.85 and issued 1,042,320 underwriters’ warrants. Each underwriters’ warrant is exercisable into one common share at $0.54 per share until July 6, 2023.
The units issued under the offering were offered by way of a short form prospectus dated June 28, 2021, filed in the provinces of British Columbia, Alberta, and Ontario, and on a private placement basis in the United States.
Net proceeds will be used for the advancement of the company’s Cuiú Cuiú Project and for working capital.
Cabral Gold is a junior resource company engaged in the exploration and development of mineral properties, with a primary focus on gold properties located in Brazil. The company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil.
Cabral Gold Inc. (CBR) opened trading at C$0.52 per share.
