The Conversation (0)
Roxgold Closes C$30 Million Financing, Receives Yaramoko Exploitation Permit Approval
Nov. 04, 2014 11:54AM PST
Gold Investing
Roxgold (TSXV:ROG) has closeda previously announced bough deal financing of 46.2 million units for aggregate gross proceeds of roughly C$30 million. The company also reported that the Burkina Faso Council of Ministers has approved the issuance of the Yaramoko exploitation permit, which will allow Roxgold to progress the development of the project. The permit is still subject to the receipt of an official state decree.
Roxgold (TSXV:ROG) has closeda previously announced bough deal financing of 46.2 million units for aggregate gross proceeds of roughly C$30 million. The company also reported that the Burkina Faso Council of Ministers has approved the issuance of the Yaramoko exploitation permit, which will allow Roxgold to progress the development of the project. The permit is still subject to the receipt of an official state decree.
As quoted in the press release:
Each Unit consists of one common share of Roxgold (a “Unit Share”) and one-half of one common share purchase warrant (each full warrant, a “Warrant”), each full Warrant being exercisable to acquire one common share of Roxgold at a purchase price of $0.90 until February 4, 2016. The Financing was co-led by Cormark Securities Inc. and BMO Capital Markets and involved a syndicate which included Macquarie Capital Markets Canada Ltd., GMP Securities L.P., RBC Capital Markets, Haywood Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd. (collectively, the “Underwriters”).
The net proceeds from the Financing will be used to advance the development of the Yaramoko Gold Project and for general corporate purposes.