- Great Panther Mining (GPR) has entered into an underwriting agreement with H.C. Wainright & Co. for a $20M bought deal offering
- The underwriters have agreed to purchase 76,923,077 common shares at $0.26 per share on a firm commitment basis
- The $20 million in proceeds will be used for underground mine development and exploration programs at the company’s Tucano mine in Brazil
- The offering is expected to close on November 12
- Great Panther is a growing gold and silver producer focused on the Americas
- Shares in Great Panther Mining Ltd. (GPR) are down 30.85 per cent today, trading at $0.325 per share
Great Panther Mining (GPR) has entered into an underwriting agreement with H.C. Wainright & Co. for its $20 million bought deal offering.
H.C. Wainwright will act as sole book-running manager and representative of a syndicate of underwriters in the offering. The underwriters have agreed to purchase 76,923,077 common shares at $0.26 per share on a firm commitment basis, for proceeds of approximately $20 million.
In addition, Great Panther has granted the underwriters an option to purchase up to an additional 11,538,461 at the public offering price.
Great Panther will also pay the underwriters a cash commission equal to 6 per cent of the gross proceeds of the offering, including any proceeds received from the exercise of the option.
The company intends to use the net proceeds of the offering for underground mine development and exploration programs at Tucano, and to maintain its working capital and for general corporate purposes.
The offering is subject to approval from the Toronto and New York Stock Exchanges and is expected to close on November 12, 2021.
Great Panther is a growing gold and silver producer focused on the Americas.
The company owns a diversified portfolio of assets in Brazil, Mexico, and Peru that includes three operating gold and silver mines, an advanced development project and a large land package with district-scale potential.
Its mining operations include the Tucano Gold Mine in Amapa State, Brazil, and two primary silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine.
Shares in Great Panther Mining Ltd. (GPR) are down 30.85 per cent today, trading at $0.325 per share as of 2:21 pm ET.