- GoldSpot issued 9,380,000 common shares at a price of $0.975 per share to raise aggregate gross proceeds of $9,145,500
- Mr. Eric Sprott acquired 9,380,000 shares for $9,145,500
- Net proceeds will be used for research and development, investment capital and general corporate expenses
- GoldSpot Discoveries is a technology services company in mineral exploration
- GoldSpot Discoveries Corp. (SPOT) is unchanged, trading at C$0.94 per share at 4:15 pm ET
GoldSpot Discoveries (SPOT) has completed a non-brokered private placement.
The company has issued 9,380,000 common shares at a price of $0.975 per share to raise aggregate gross proceeds of $9,145,500.
Canaccord Genuity Corp. acted as the Company’s financial advisor and received a cash financial advisory fee in the amount of $274,365.
Mr. Eric Sprott acquired 9,380,000 shares under the offering for $9,145,500. Mr. Sprott now owns or controls 23,681,332 shares of GoldSpot representing approximately 19.9% of the issued and outstanding shares.
The shares were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire or sell additional securities of GoldSpot.
“Eric is one of our earliest supporters and a valued shareholder in GoldSpot. This $9.1M investment at a premium to the market, is a strong endorsement of our company and the management team as we develop and acquire licensable products to build robust, reoccurring revenue streams,” said Denis Laviolette, Executive Chairman and President of GoldSpot.
“Alongside our recent oversubscribed $11.5M private placement, this investment further strengthens the company’s cash position and demonstrates continued investor confidence in GoldSpot as we execute our diversified acquisition and revenue strategies.”
All shares issued in connection with the offering are subject to a statutory hold period expiring on October 15, 2021.
Net proceeds will be used for research and development, investment capital and general corporate expenses.
GoldSpot Discoveries is a technology services company in mineral exploration.
GoldSpot Discoveries Corp. (SPOT) is unchanged, trading at C$0.94 per share at 4:15 pm ET.