Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Cabral Gold has closed its bought deal prospectus offering
  • The company sold a total of 21,298,000 units, including the exercise in full of the underwriters’ over-allotment option for gross proceeds of $11,500,920
  • The offering was led by Cormark Securities Inc. as lead underwriter and sole bookrunner
  • Units were offered by way of a short form prospectus filed in British Columbia, Alberta and Ontario, and on a private placement basis in the United States
  • Net proceeds will be used for the advancement of the company’s Cuiú Cuiú Project and for working capital
  • Cabral Gold is a junior resource company engaged in the exploration and development of mineral properties
  • Cabral Gold Inc. (CBR) opened trading at C$0.52 per share

Cabral Gold has closed its bought deal prospectus offering.

The company sold a total of 21,298,000 units, including the exercise in full of the underwriters’ over-allotment option, at a price of $0.54 per unit for gross proceeds of $11,500,920.

Each unit includes one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share at a price of $0.80 until July 6, 2023.

The offering was led by Cormark Securities Inc. as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Stifel Nicolaus Canada Inc., Paradigm Capital Inc., and Research Capital Corporation. Cabral Gold paid the Underwriters a cash commission of $562,852.85 and issued 1,042,320 underwriters’ warrants. Each underwriters’ warrant is exercisable into one common share at $0.54 per share until July 6, 2023.

The units issued under the offering were offered by way of a short form prospectus dated June 28, 2021, filed in the provinces of British Columbia, Alberta, and Ontario, and on a private placement basis in the United States.

Net proceeds will be used for the advancement of the company’s Cuiú Cuiú Project and for working capital.

Cabral Gold is a junior resource company engaged in the exploration and development of mineral properties, with a primary focus on gold properties located in Brazil. The company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil.

Cabral Gold Inc. (CBR) opened trading at C$0.52 per share.

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.