NRFission closes C$17.07 Million Bought Deal Offering
Just another 62M shares to the float ?
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Pursuant to the Offering, the Company issued 62,090,303 units of the Company (the "Units"), including 7,544,803 Units issued in connection with the partial exercise of the over-allotment option granted to the Underwriters in connection with the Offering (the "Over-Allotment Option"), at a price of C$0.275 per Unit for aggregate gross proceeds of C$17,074,833.33. The Offering was completed through a syndicate of underwriters co-led by Eight Capital and Sprott Capital Partners LP, and including H.C. Wainwright & Co., LLC and Canaccord Genuity Corp. (collectively, the "Underwriters").
Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price of C$0.41 for a period of 24 months following the closing of the Offering.
The Underwriters received a cash commission of 6.0% of the gross proceeds of the Offering, subject to a reduced cash commission being payable on sales to certain members of the president's list, including on the proceeds realized on the exercise of the Over-Allotment Option.
The net proceeds of the Offering will be used to fund the further development of the Triple R deposit in Saskatchewan, to repay certain amounts owing under the credit facility among the Company, Sprott Resources Lending Corp. and Sprott Private Resource Lending II (Collector), LP, and for working capital and general corporate purposes.