AR.T Halt! Im impressed. These guys are moving fast.
Argonaut Gold Inc. Announces C$110 Million Bought Deal Financing
Not for distribution to U.S. news wire services or dissemination in the United States.
TORONTO, July 06, 2020 (GLOBE NEWSWIRE) -- Argonaut Gold Inc. (TSX: AR) (the "Company", “Argonaut Gold” or “Argonaut”) has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 43,138,000 common shares (the “Common Shares”), at a price of C$2.55 per Common Share for gross proceeds of approximately C$110 million (the “Offering”). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about July 23, 2020 and is subject to Argonaut Gold receiving all necessary regulatory approvals.
Argonaut intends to use the net proceeds of the Offering for the advancement of the Company’s Magino project and for general corporate purposes.
