Columbus Gold Announces $5 Million Bought Deal Short-Form Prospectus Offering

Precious Metals

Columbus Gold (TSX:CGT) has announced it has entered into an agreement with Beacon Securities to purchase on a bought deal basis an aggregate of 8 million common shares for gross proceeds of $5,040,00. As quoted in the press release: The closing of the Offering is expected to occur on or about February 7, 2017 and …

Columbus Gold (TSX:CGT) has announced it has entered into an agreement with Beacon Securities to purchase on a bought deal basis an aggregate of 8 million common shares for gross proceeds of $5,040,00.
As quoted in the press release:

The closing of the Offering is expected to occur on or about February 7, 2017 and is subject to the completion of formal documentation and receipt of regulatory approval, including the approval of the Toronto Stock Exchange. The net proceeds received by Columbus from the sale of the Offered Shares will be used to carry-out an exploration drilling program at its Montagne d’Or gold project in French Guiana, and for working capital and general corporate purposes.
The Offered Shares to be issued under the Offering will be offered by way of a short-form prospectus to be filed in each of the Provinces of Canada (other than the Province of Quebec) and may be offered in the United States to Qualified Institutional Buyers pursuant to exemptions from the registration requirements under rule 144A of the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), in a manner that does not require the Offered Shares to be registered in the United States. The Offered Shares may be also sold in such other jurisdictions as Columbus and Beacon may agree.

Click here to read the full press release.

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