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Cassels Brock Represents the Underwriters in JDL Gold Corp.'s $20 Million Bought Deal Financing

Published: 03/02/2017

Team: Eva Bellissimo, Jamie Litchen, Matt Gold, James Lyle

On March 2, 2017, JDL Gold Corp. completed its bought deal private placement of 10,000,000 subscription receipts at a price of $2.00 per subscription receipt for gross proceeds of $20 million (upsized from the originally announced $15 million).  Upon satisfaction of certain escrow release conditions, each subscription receipt will be automatically converted into one common share of and one common share purchase warrant of JDL. Each warrant is exercisable at a price of $3.00 per common share until October 6, 2021. The private placement was completed in connection with the previously announced business combination involving JDL and Luna Gold Corp.

The offering was completed by a syndicate of underwriters co-led by Haywood Securities Inc. and National Bank Financial Inc. and including, Cormark Securities Inc., Clarus Securities Inc., Eight Capital, Paradigm Capital Inc. and Raymond James Ltd.

Cassels Brock represented the underwriters with a team composed of Eva Bellissimo, Jamie Litchen, Matt Gold and James Lyle (Securities and Mining).