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NexGen Energy Ltd. (TSXV:NXE) has entered an agreement with Cormark Securities Inc., on behalf of a syndicate of underwriters, whereby the underwriters will purchase 21,750,000 flow through shares of NexGen. The offering is expected to raise gross proceeds of roughly $10 million.
As quoted in the publication:
The closing of the Offering is expected to occur on or about November 11, 2014 and is subject to the completion of formal documentation and receipt of regulatory approval, including the approval of the TSX Venture Exchange.
The proceeds received by the Company from the sale of the Flow-Through Shares will be used to incur Canadian exploration expenditures that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act (Canada)) on the Corporation’s properties in the Province of Saskatchewan, which will be renounced to the subscribers with an effective date no later than December 31, 2015, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of Flow-Through Shares.
Click here to read the NexGen Energy Ltd. (TSXV:NXE) press release
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