- Baden Resources (BDN) has closed the first tranche of a private placement of Northstar Gaming subscription receipts for gross proceeds of $4,020,000
- NorthStar has closed the first tranche of its offering, issuing 8,040,000 subscription receipts at a price of $0.50 per receipt
- Torstar Corporation completed a subscription for a further 50,000 preferred shares in NorthStar for gross proceeds of $5,000,000
- The net proceeds from the offering will be used for marketing and other costs to develop the business of NorthStar
- Canada-based NorthStar Gaming owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform
- Baden Resources Inc. (BDN) opened trading at C$0.20
Baden Resources (BDN) has closed the first tranche of a private placement of Northstar Gaming subscription receipts for gross proceeds of $4,020,000.
Following the previous announcement regarding a business combination agreement with Northstar Gaming, NorthStar has closed the first tranche of its offering, issuing 8,040,000 subscription receipts at a price of $0.50 per receipt for gross proceeds of $4,020,000.
Concurrently with the first closing, Torstar Corporation completed a subscription for a further 50,000 preferred shares in NorthStar for gross proceeds of $5,000,000.
The offering is expected to close in September.
The offering was led by Canaccord Genuity Corp. and Paradigm Capital Inc. as co-lead agents, along with Eight Capital Inc., Cormark Securities Inc. and Echelon Capital Markets.
The agents received a cash commission of $241,200 and broker warrants.
The net proceeds from the offering will be used for marketing and other costs of developing the business of NorthStar.
Canada-based NorthStar Gaming owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores along with the most popular online casino games.
Baden Resources Inc. (BDN) opened trading at C$0.20.
