OTCPK:NWKRF - Post by User
Post by
Charles86on May 24, 2018 10:24am
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Post# 28074812
Newstrike Announces Increase to Bought Deal Financing
Newstrike Announces Increase to Bought Deal FinancingTORONTO, May 24, 2018 (GLOBE NEWSWIRE) -- Newstrike Resources Ltd. (“Newstrike” or the “Company”), (TSXV:HIP) is pleased to announce that further to its press release on May 24, 2018, the Company, and Cormark Securities Inc. and INFOR Financial Inc. (the “Co-Lead Underwriters”), on behalf of a syndicate of underwriters (together with the Co-Lead Underwriters, the “Underwriters”) have agreed to increase the size of its previously announced $40 million “bought deal” offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a “bought deal basis” 60,000,000 units (“Units”) from the treasury of the Company, at a price of $0.75 per Unit (the “Offering Price”) for aggregate gross proceeds of $45 million (the “Offering”).