leadf
logo-loader
viewGreat Panther Mining Limited
(
TSX:GPRNYSE:GPL
)

Great Panther Mining closes US$16.1 million financing to advance Tucano exploration

Proceeds from the offering will go towards exploration programs near its Tucano gold mine in Brazil as well as further afield in the region

Great Panther Mining Limited -
The Vancouver-based company issued 40.25 million shares priced at US$0.40

Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) said Wednesday that it had closed a previously announced bought deal financing that raised S$16.1 million.

Proceeds from the offering will go towards exploration programs near its Tucano gold mine in Brazil as well as further afield in the region.

"This financing provides additional balance sheet strength to deliver our 2020 objectives and allows us to advance the exploration programs underway at Tucano, where we have 55,000 metres of drilling planned for 2020,” CEO Rob Henderson said in a statement thanking participants for their support.

READ: Great Panther gets US$14 million in bought-deal financing for Tucano Gold Mine programs

Under the term sheet, the Vancouver-based company issued 40.25 million shares priced at US$0.40.

The offering was led by Cantor Fitzgerald Canada Corporation and BMO Nesbitt Burns Inc, who acted as co-lead underwriters and joint book-runners on behalf of themselves and a syndicate of underwriters, including HC Wainwright & Co LLC as lead manager, and Roth Capital Partners LLC as manager.

The financing, announced last week, was originally set for US$14 million but an overallotment option was exercised by the underwriters to provide an additional US$2.1 million.

Great Panther added Tucano to its portfolio in March 2019 as part of its US$105 million acquisition of Beadell Resources. In addition to Tucano, Great Panther operates the Topia mine and the Guanajuanto Mine Complex in Mexico.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Great Panther Mining Limited

Follow
TSX:GPR

Price: 0.58 CAD

Market Cap: $206.94 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Great Panther Mining drill program returns high-grade intercepts from Urucum...

Great Panther Mining Limited CEO Rob Henderson joined Steve Darling from Proactive to bring news the company has seen high-grade results from drilling at the Urucum North Deposit on their Tocano Project. The company is hoping to see an estimated 40,000 to 50,000 gold ounce per year underground...

on 23/7/21

2 min read