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Marathon Gold Corporation Completes $18.6 Million Bought Deal Offering

Published: 05/25/2017

Team: Chad Accursi, Shaun Khullar, Kyle Simpson, Christopher B. Norton

On May 25, 2017, Marathon Gold Corporation completed a bought deal prospectus offering of 6,900,000 common shares at a price of $1.03 per share and 9,200,000 flow-through common shares at a price of $1.25 per flow-through share for aggregate gross proceeds of $18,607,000.

The offering was conducted by a syndicate of underwriters comprised of RBC Capital Markets and Haywood Securities Inc., as joint bookrunners, together with Beacon Securities Limited, as co-lead underwriters, and Canaccord Genuity Corp., Paradigm Capital Inc. and Raymond James Ltd.

Marathon intends to use the net proceeds from the offering to continue exploration and development of its Valentine Lake Gold Property in Newfoundland and for working capital.

Cassels Brock acted for the underwriters with a deal team that included Chad Accursi, Shaun Khullar, Kyle Simpson (Securities and Mining) and Christopher Norton (Tax).