On July 18, 2019, Pure Gold Mining Inc. closed a bought deal private placement of 62,714,000 units, and a concurrent non-brokered private placement of 23,700,000 units, all at a price of $0.55 per unit, for aggregate gross proceeds of approximately $47.5 million.
Each unit consists of one common share of Pure Gold and one-half of one common share purchase warrant. Each warrant is transferrable and entitles the holder to acquire one common share of Pure Gold until July 18, 2022 at a price of $0.85.
The brokered portion of the offering was completed through a syndicate of underwriters led by Sprott Capital Partners LP and including Velocity Trade Capital Ltd.
Cassels Brock acted for Sprott Capital with a deal team that included Jennifer Traub, Jonathan Chandler and Laith Sarhan (Securities and Mining).