- St. James Gold (LORD) has upsized its brokered private placement to C$5.5 million due to strong investor demand
- The company will use the proceeds for drilling on the Florin Gold Project and exploration activities on its Newfoundland properties
- Canaccord Genuity is serving as lead agent
- The company expects the offering to close on September 9, 2021
- St. James Gold is focused on mineral properties in Newfoundland and the Yukon
- St. James Gold (LORD) closed up by 1.35 per cent trading at $3.75 per share
St. James Gold (LORD) has upsized its brokered private placement to C$5.5 million due to strong investor demand.
Canaccord Genuity, as lead agent, will offer up to 931,667 St. James units at $3.22 per unit and up to 647,668 flow-through units at $3.86 per unit.
Each unit is comprised of one St. James common share and one common share purchase warrant.
Each warrant entitles the holder to purchase one common share for $4.18 for three years from the closing date.
Each flow-through unit is comprised of one common share and one warrant and qualifies as a “flow-through share” as defined in the Income Tax Act of Canada.
Each flow-through warrant entitles the holder to purchase one common share – which does not qualify as a flow-through share – for $4.18 for three years from the closing date.
St. James Gold will use the proceeds for drilling on the Florin Gold Project, exploration activities on its Newfoundland properties and for general corporate purposes.
Proceeds from flow-through units will only go toward Canadian exploration expenses that are flow-through mining expenditures as defined in the Income Tax Act of Canada.
The company expects the offering to close on September 9, 2021.
St. James Gold is focused on mineral properties in Newfoundland and the Yukon.
St. James Gold (LORD) closed up by 1.35 per cent trading at $3.75 per share.