- Paycore Minerals Inc. (CORE) signed an amending agreement to increase the size of the bought deal financing to $16 million
- Approximately 9.82 million common shares of the company will be offered at a price of $1.63 per share
- The company also granted the involved underwriters an over-allotment option
- The net proceeds will fund ongoing work at the FAD Property in Nevada and for working capital and general corporate purposes
- Paycore Minerals Inc. (CORE) is unchanged, trading at $1.85 per share as of 3:27 p.m. EST
Paycore Minerals Inc. (CORE) has signed an amending agreement to increase the size of the previously announced bought deal financing to $16 million.
In the amended agreement, approximately 9.82 million common shares of the company will be offered at a price of $1.63 per share.
In addition, the company has granted the involved underwriters an over-allotment option to purchase an additional 15 per cent of the shares sold in the offering for a period of 30 days following the closing date. It can be exercised fully or partly by the underwriters.
The net proceeds from the offering are expected to be used by Paycore Minerals to fund ongoing work, development, and permitting activities at its FAD Property in Nevada, as well as for working capital and general corporate purposes.
Closing of the offering is expected to take place on or about February 9th. and is subject to certain conditions, including the receipt of all applicable regulatory approvals, including approval of the TSX Venture Exchange.
Paycore Minerals Inc. (CORE) is unchanged, trading at $1.85 per share as of 3:27 p.m. EST.