- Monarch Mining (GBAR) has upsized its previously announced marketed private placement offering for gross proceeds of up to $12M
- The company will now issue up to 20 million units at C$0.60 per unit
- The company will use the proceeds to develop its Beaufor Mine and Beacon Mill, as well as for general corporate purposes
- The offering is scheduled to close on or about April 6, 2022
- Monarch Mining is a fully integrated mining company focused on four advanced gold projects in Quebec
- Monarch Mining (GBAR) is down by 5.97 per cent trading at $0.63 per share at 4:15 pm ET
Monarch Mining (GBAR) has upsized its marketed private placement offering for gross proceeds of up to $12 million.
The company will offer up to 20 million units priced at $0.60 per unit.
Each unit consists of one common share and one transferable common share purchase warrant.
Each warrant entitles the holder to acquire one common share for $0.95 for up to five years following the closing date.
Monarch will use the proceeds to develop its Beaufor Mine and Beacon Mill, as well as for general corporate purposes.
Stifel GMP and Sprott Capital Partners LP are serving as co-lead agents and joint bookrunners on behalf of a syndicate of agents on the best-efforts offering.
The agents may increase the offering by up to 20 per cent up to 48 hours prior to the closing date.
The offering is scheduled to close on or about April 6, 2022.
Monarch Mining is a fully integrated mining company focused on four advanced gold projects in Quebec.
Monarch Mining Corporation (GBAR) is down by 4.48 per cent trading at $0.64 per share as of 12:14 pm ET.
