- Pan Global Resources (PGZ) has increased its private placement financing from C$12 million to C$13 million
- The syndicate of underwriters co-led by Canaccord Genuity Corp., Sprott Capital Partners, and Echelon Wealth Partners Inc. have agreed to purchase 16,667,000 common shares
- The underwriters agreed to upsize the offering to 21,667,000 shares with an over-allotment option
- If the over-allotment option is fully exercised, aggregate gross proceeds of the offering are expected to be C$14.95 million
- The offering is expected to close on or about June 4
- Pan Global Resources Inc. is actively engaged in base and precious metal exploration
- Pan Global Resources Inc. (PGZ) is up 1.39 per cent, trading at C$0.73 per share at 3 pm ET
Pan Global Resources (PGZ) has increased its private placement financing from C$12 million to C$13 million.
The company announced that it had entered into an engagement with a syndicate of underwriters co-led by Canaccord Genuity Corp., Sprott Capital Partners, and Echelon Wealth Partners Inc. The underwriters have agreed to purchase 16,667,000 common shares for gross proceeds of approximately C$10 million.
The underwriters agreed to upsize the offering to 21,667,000 shares, with an over-allotment option for an additional 3,250,050 shares and additional gross proceeds of $1.95 million.
If the over-allotment option is fully exercised, aggregate gross proceeds of the offering are expected to be C$14.95 million.
Pan Global’s President and CEO, Tim Moody, noted,
“We are very encouraged by the strong demand for the Offering. The additional proceeds will allow us to further accelerate our planned drilling and exploration programs in Southern Spain.”
The offering is expected to close on or about June 4, 2021.
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain and is pursuing opportunities from exploration through to mine development.
Pan Global Resources Inc. (PGZ) is up 1.39 per cent, trading at C$0.73 per share at 3 pm ET.