Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • St. James Gold has announced a private placement of up to 931,667 units and 259,067 flow-through units for gross proceeds of up to $4M
  • Canaccord Genuity Corp. is acting as the lead agent for the offering
  • Net proceeds will be used to fund drilling on the Florin Gold Project and exploration activities on the company’s Newfoundland properties
  • The offering will be conducted in both Canada and the United States
  • St. James Gold is engaged in acquiring, exploring, and developing mineral resource properties in Canada
  • St. James Gold Corp. (LORD) opened trading at C$3.90 per share

St James Gold has announced a private placement for gross proceeds of up to $4M.

The company will issue up to 931,667 units and 259,067 flow-through units.

Canaccord Genuity Corp. is acting as the lead agent for the offering. 

Each unit will include one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional share for $4.18 for a period of three years from the closing date.

Each FT unit will include one common share and one warrant, each of which will qualify as a “flow-through share”. 

St. James Gold has agreed to pay Canaccord a cash fee equal to 6.0 per cent of the gross proceeds of the offering and issue broker warrants equal to 6.0 per cent of the combined number of units and FT units sold under the offering. The company has also agreed to payCanaccord a corporate finance fee in units equal to 2.0 per cent of the combined number of units and FT units sold.

Net proceeds will be used to fund drilling on the Florin Gold Project, exploration activities on the company’s Newfoundland properties, and general corporate purposes. The gross proceeds raised from the sale of FT Units will be used to fund mining expenditures on the company’s options on the Florin Gold Project and Newfoundland properties.

The offering will be conducted in both Canada and the United States. The closing of the offering is subject to the receipt of all necessary approvals from the TSX Venture Exchange. The offering is expected to close on August 26, 2021.

All securities issued will be subject to a four-month hold period.

St. James Gold is engaged in acquiring, exploring, and developing mineral resource properties in Canada.

St. James Gold Corp. (LORD) opened trading at C$3.90 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.