- Giga Metals (GIGA) has completed a C$6.466 million overnight marketed offering
- The company offered 13,667,755 units for sale for gross proceeds of $6,466,707
- Giga intends to use the net proceeds to advance its Turnagain Project
- The offering included participation by two Giga Metals directors in the aggregate of 240,000 units
- Giga Metals aims to supply battery metals such as nickel and cobalt to support the world’s progression towards clean energy
- Giga Metals (GIGA) closed the day up 3.61 per cent trading at $0.43 per share
Giga Metals (GIGA) has completed a C$6.466 million overnight marketed offering.
The company offered 13,667,755 units for sale, including 1,067,755 units issued pursuant to the over-allotment option, which was exercised in part, for gross proceeds of $6,466,707.
The units consisted of 8,397,455 non-flow through units priced at $0.45 per unit, each of them comprised of one common share and one common share purchase warrant.
The remainder of the units consisted of 5,270,300 flow through units priced at $0.51 per unit, each of them comprised of one flow through common share and one common share purchase warrant.
Each warrant entitles the holder to purchase one non-flow through common share for $0.60 at any time until April 23, 2024.
Giga Metals intends to use the net proceeds to advance its Turnagain Project.
The offering included participation by two Giga Metals directors in the aggregate of 240,000 units. Accordingly, the offering constitutes a related-party transaction.
Cantor Fitzgerald Canada served as sole bookrunner and lead of a syndicate of underwriters including Canaccord Genuity, Echelon Wealth Partners and Haywood Securities.
Giga Metals aims to supply battery metals such as nickel and cobalt to support the world’s progression towards clean energy.
Giga Metals (GIGA) closed the day up 3.61 per cent trading at $0.43 per share.
