Maple Gold Mines (TSXV: MGM) is looking to boost its cash position. The firm last night indicated that it intends to conduct a bought deal private placement of flow through shares, lead by Cormark Securities and Agentis Capital.
The financing will see the firm look to raise $5.0 million via the sale of 9.3 million flow through shares. Each share is priced at $0.54 per each, resulting in the firm expecting to raise gross proceeds of $5.0 million. No warrant is being offered in connection with the financing.
An over-allotment option has also been granted, enabling the sale of up to an additional 3.7 million flow through shares.
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Proceeds raised under the financing are to be used for exploration expenses.
The financing is currently slated to close by December 9.
Maple Gold last traded at $0.34 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
