- Giga Metals (GIGA) has announced the terms of its $6 million offering
- The company will sell 7,800,000 common share units at $0.45 per unit and 4,800,000 flow-through shares units at of $0.51 per unit
- Proceeds will be used for exploration expenses as well as general corporate expenses
- Giga Metals Corporation is focused on metals critical to modern batteries
- Giga Metals (GIGA) is down 5.77 per cent and is currently trading at $0.49 per share
Giga Metals (GIGA) has announced the terms of its $6 million offering.
The company has entered into an underwriting agreement with a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation and including Canaccord Genuity, Haywood Securities and Echelon Wealth Partners.
Under the agreement, the company will sell 7,800,000 common share units at $0.45 per unit and 4,800,000 flow-through shares units at of $0.51 per FT unit.
Each common unit shall be comprised of one common share and one purchase warrant.
Each flow-through unit shall be comprised of one common share in the capital of the company that qualifies as “flow-through shares” for purposes of the Income Tax Act and one warrant.
Each warrant shall entitle the holder to purchase one common share at $0.60 at any time on or before the date which is 36 months after the closing date.
The offering is expected to close on or about April 16, 2021 and will be subject to certain conditions including the approval of the TSXV.
Proceeds from the sale of the flow-through units will be used solely for Canadian exploration expenses on the company’s mineral properties in British Columbia.
Proceeds from the sale of the common units will be used for development and exploration expenses at the Turnagain Project in British Columbia as well as for general corporate expenses & purposes.
Giga Metals Corporation is focused on metals critical to modern batteries. The company’s core asset is the Turnagain Project, located in northern British Columbia.
Giga Metals (GIGA) is down 5.77 per cent and is currently trading at C$0.49 per share as of 3:51 pm ET.