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Nighthawk Gold Corp. Closes $25.1 Million Equity Financings

Published: 03/03/2017

Team: Paul M. Stein, Alexander Pizale, Kyle Simpson, Christopher B. Norton

On March 2, 2017, Nighthawk Gold Corp. closed a bought deal private placement, which included the exercise of the over-allotment option in full by the underwriters. A total of 12,365,593 flow-through units were issued at a price of $0.93 per unit and 16,428,573 units were issued at a price of $0.70 per unit for aggregate gross proceeds of $23,000,0002.

The offering was completed by a syndicate of underwriters lead by PI Financial Corp. and included Cannaccord Genuity Corp. In connection with the offering, the underwriters received a cash fee and 824,631 nontransferable compensation options. Each compensation option is exercisable into one common share of Nighthawk at a price of $0.70 until September 2, 2018.

Nighthawk also completed a non-brokered private placement in which the company issued 3,027,926 units at a price of $0.70 per unit, for aggregate gross proceeds of $2,119,548.

Cassels Brock represented Nighthawk in both offerings with a deal team that included Paul Stein, Alex Pizale and Kyle Simpson (Securities & Mining) and Chris Norton (Tax).