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Great Panther Silver Completes Previously Announced $29.9 Million Bought Deal
Jul. 12, 2016 09:18AM PST
Silver InvestingGreat Panther Silver (TSX:GPR) has announced that it has closed its previously announced public offering of units made pursuant to an amended and restated underwriting agreement dated July 6, 2016. As quoted in the press release: Pursuant to the Offering, the Company sold an aggregate of 18,687,500 Units at a price of US1.60 per Unit …
Great Panther Silver (TSX:GPR) has announced that it has closed its previously announced public offering of units made pursuant to an amended and restated underwriting agreement dated July 6, 2016.
As quoted in the press release:
Pursuant to the Offering, the Company sold an aggregate of 18,687,500 Units at a price of US1.60 per Unit for gross proceeds ofUS$29.9 million. The Units sold include 2,437,500 Units sold pursuant to the exercise, in full, of the over-allotment option that was granted to the Underwriters. Each Unit consists of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Share at the exercise price of US$2.25 per Share for a period of 18 months after the closing of the Offering.
The Company intends to use the net proceeds of the Offering, together with the Company’s current cash resources, to fund operating, development and exploration expenditures at its mining operations and projects, for possible future acquisitions and for general corporate and working capital purposes.
The Offering was completed by way of a prospectus supplement and an accompanying base shelf prospectus in all of the provinces of Canada, other than Québec, and was offered in the United States pursuant to a prospectus supplement and an accompanying base shelf prospectus filed as part of an effective shelf registration statement on Form F-10 filed with the United States Securities and Exchange Commission under the Canada/U.S. multi-jurisdictional disclosure system. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
