Flow - through shares financing
Search documents
Sitka Gold Announces $25 Million Bought Deal Financing
Newsfile· 2025-10-08 20:53
Core Viewpoint - Sitka Gold Corp. has announced a bought deal private placement to raise $25,001,900 by issuing 16,235,000 flow-through shares at a price of $1.54 per share, aimed at advancing its RC Gold Project in the Yukon Territory [1][2]. Financing Details - The financing is being led by Beacon Securities Limited and is completed at a significant premium to the market, indicating strong recognition of the RC Gold Project [2]. - The funds raised will be used for eligible Canadian exploration expenses related to the RC Gold Project, with all qualifying expenditures to be renounced in favor of subscribers by December 31, 2025 [2]. Regulatory Compliance - The flow-through shares will be offered under the accredited investor exemption and the listed issuer financing exemption, with a total of $5 million and $20 million gross proceeds respectively [3]. - The offering in Quebec will commence only after the necessary French documentation is filed [3]. Shareholder Participation - Certain shareholders with participation rights may opt to purchase common shares at the FT Issue Price through a non-brokered private placement [6]. Underwriter Compensation - The company will pay the underwriters a cash commission of 6.0% of the gross proceeds and issue compensation options equal to 6.0% of the number of flow-through shares sold [7]. Closing Timeline - The offering is expected to close around October 30, 2025, pending necessary regulatory approvals [8]. Company Overview - Sitka Gold Corp. is a well-funded mineral exploration company with over $14 million in treasury and no debt, focusing on gold, silver, and copper properties [10]. - The company is advancing its flagship RC Gold Project, which spans 431 square kilometers in the Yukon Territory, along with other projects in Nevada, Arizona, and Nunavut [10].
STLLR Gold Announces C$30 Million Financing Including $10 Million Bought Deal and Concurrent Private Placement with Eric Sprott
Newsfile· 2025-09-22 21:38
Core Viewpoint - STLLR Gold Inc. has announced a financing plan totaling C$30 million, which includes a C$10 million bought deal and a concurrent private placement with Agnico Eagle Mines Limited, aimed at enhancing its capital for exploration projects [1][4]. Financing Details - The financing consists of a bought deal private placement of 2,790,200 common shares at C$1.792 per share, generating gross proceeds of approximately C$5 million, and an additional 3,246,800 common shares at C$1.54 per share for another C$5 million, totaling around C$10 million from the bought private placement [4][6]. - A brokered private placement of up to 11,719,000 common shares at C$1.28 per share is also planned, potentially raising up to C$15 million [4][7]. - Agnico intends to participate in a non-brokered private placement of 3,907,000 common shares, which will increase its ownership in STLLR to approximately 11% post-offering [1][4]. Use of Proceeds - The gross proceeds from the bought shares will be allocated to Canadian exploration expenses qualifying as flow-through mining expenditures, to be incurred by December 31, 2026 [6][7]. - The net proceeds from the best efforts shares and concurrent shares will be utilized for non-flow-through eligible operating expenses and general corporate purposes [7]. Closing and Regulatory Approvals - The offering is expected to close around October 15, 2025, subject to necessary corporate and regulatory approvals, including from the Toronto Stock Exchange [8]. Related Party Transactions - Participation from insiders in the offering will classify it as a related party transaction, but it is anticipated that such participation will not require minority approval under MI 61-101, as the value does not exceed 25% of STLLR's market capitalization [9]. Company Overview - STLLR Gold Inc. is a Canadian gold development company focused on advancing high-potential gold projects, including the Tower Gold Project and the Colomac Gold Project, which are expected to become large-scale operations [11].
Onyx Announces Upsize of Brokered Financing to $18 Million and Concurrent $5.6 Million Non-Brokered Financing at $2.43 per Share Involving Strategic Investors
Newsfile· 2025-09-17 15:51
Core Viewpoint - Onyx Gold Corp. has announced an increase in its brokered financing to $18 million and a concurrent non-brokered financing of $5.6 million, aimed at raising a total of approximately $23.6 million for its projects [2][3]. Financing Details - The brokered financing, originally set at $15 million, has been upsized by $3 million, resulting in gross proceeds of $18 million [2]. - The non-brokered private placement is priced at $2.43 per share, expected to generate approximately $5.6 million [3][11]. - If the underwriters' option is fully exercised, total gross proceeds could reach approximately $25.6 million [3]. Offering Structure - The offering will include the issuance of 4,740,000 flow-through shares at $2.11 each, generating $10,001,400, and 5,332,400 common shares at $1.50 each, generating $7,998,600 [4]. - An option has been granted to underwriters to increase the offering by up to $2 million [5]. Use of Proceeds - Proceeds from the flow-through shares will be used for eligible Canadian exploration expenses related to the company's projects in Ontario, to be incurred by December 31, 2026 [6]. - Net proceeds from the common shares will be allocated for exploration of mineral properties and general corporate purposes [7]. Closing and Regulatory Approval - The offering is expected to close around October 2, 2025, subject to regulatory approvals [8][13]. - The shares will be offered under applicable exemptions from prospectus requirements and will not be subject to a hold period under Canadian securities laws [9][14]. Company Overview - Onyx Gold Corp. is focused on mineral exploration in established mining jurisdictions, with significant assets in Timmins, Ontario, and Yukon Territory [16][17]. - The company holds a 100% interest in a portfolio exceeding 443 km² across three projects in Timmins, all accessible year-round [16].