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Cassels Brock Represents the Underwriter in Beaufield Resources Inc.'s $6 Million Bought Deal Financing

Published: 02/21/2017

Team: Frank DeLuca, Michael A. Alvaro

On February 21, 2017, Beaufield Resources Inc. completed its bought deal private placement of 40,000,000 common shares at a price of $0.10 per share and 13,334,000 flow-through common shares for aggregate gross proceeds of $6 million (upsized from the originally announced $4 million).  The offering was completed by Eight Capital (formerly Dundee Capital Partners). In consideration for their services, Beaufield paid Eight Capital a cash commission of 6% of the gross proceeds of the offering (3% for certain president’s list investors) and also granted to Eight Capital 3,200,040 compensation warrants. Each compensation warrant is exercisable into one common share of the corporation at a price of $0.115 for a period of 24 months. 

Cassels Brock acted for Eight with a deal team that included Frank DeLuca, Zohar Barzilai and Michael Alvaro (Securities & Mining).