Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Great Panther gets US$14 million in bought-deal financing for Tucano Gold Mine programs

% of readers think this story is Fact. Add your two cents.


Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) said it has secured US$14 million in bought-deal financing to fund near-mine and regional exploration programs at its Tucano Gold Mine. 

The Vancouver-based gold and silver explorer offered 35 million common shares at a price of US$0.40 per share with Cantor Fitzgerald Canada Corporation and BMO Nesbitt Burns Inc as co-lead underwriters.

Great Panther has also granted the underwriters an over-allotment option to purchase up to an additional 5.25 million shares for 30 days after the deal closes, which would provide an extra US$2.1 million in financing. The deal is expected to close on May 20, the company said.

READ: Great Panther Mining updates on coronavirus and restart of Mexican operations

The group will pay the underwriters a 6% cash commission, which includes any proceeds received from the over-allotment option.

In addition to funding work at Tucano, the proceeds are expected to be used to improve Great Panther’s working capital balance and for general corporate purposes.

Great Panther added Tucano to its portfolio in March 2019 as part of its US$105 million acquisition of Beadell Resources. In addition to Tucano, Great Panther operates the Topia mine and the Guanajuanto Mine Complex in Mexico.

—Updated to include new information from Great Panther increasing the offering size—

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Story by ProactiveInvestors



Source: https://www.proactiveinvestors.com/companies/news/919601/great-panther-gets-us14-million-in-bought-deal-financing-for-tucano-gold-mine-programs-919601.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.