- Great Panther Mining (GPR) has closed its previously announced bought deal offering for aggregate gross proceeds of approximately $23 million
- The company issued a total of 88,461,538 common shares, including the full exercise of the over-allotment option by the underwriters
- Proceeds will be used for underground mine development and exploration programs at the company’s Tucano mine in Brazil
- Great Panther is a growing gold and silver producer focused on the Americas
- Great Panther Mining Limited (GPR) is down 1.52 per cent on the day, trading at C$0.325 per share
Great Panther Mining (GPR) has closed its bought deal offering for aggregate gross proceeds of approximately $23 million.
The company issued a total of 88,461,538 common shares, including the full exercise of the over-allotment option by the underwriters.
H.C. Wainwright & Co. acted as sole book-running manager and representative for the syndicate of underwriters. Cormark Securities Inc. and Roth Capital Partners acted as co-managers for the offering.
Great Panther paid a cash commission equal to 6.0 per cent of the gross proceeds of the offering to the underwriters.
The company intends to use the net proceeds of the previously announced offering for underground mine development and exploration programs at Tucano, and to maintain its working capital and for general corporate purposes.
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.
Great Panther Mining Limited (GPR) is down 1.52 per cent on the day, trading at C$0.325 per share.