Sprott Capital Partners will act as lead underwriter on its own behalf and, if applicable, on behalf of a syndicate of underwriters to buy on a bought-deal basis over 6.7 million shares issued on a flow-through basis at $0.67 per FT (flow-through) share, for gross proceeds of up to C$4,500,055.
The underwriters will also have an option, exercisable, in whole or in part, at any time up to three days prior to closing, to purchase up to such a number of FT shares as is equal to 15% of the number of FT shares initially purchased as part of the offering.
It is expected that the offer will close on or about March 29 this year.
In consideration, the underwriters will receive a cash commission equal to 6% of the gross proceeds.
Pure Gold is advancing the Madsen Gold Project in Red Lake, Ontario and it wants to become Canada's next iconic gold company.
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