2nd news release (Taxes)Pure Gold Arranges C$10 Mln Fundraising to Pay Taxes 04/08/2021 10:21 AM ET
By Jaime Llinares Taboada
Pure Gold Mining Inc. said Thursday that it has entered into an agreement to raise 10.0 million Canadian dollars ($7.9 million).
The Canadian gold miner said a syndicate of underwriters has agreed to purchase or arrange for the purchase of 6.6 million shares at a price of C$1.52 each.
In addition, underwriters have been granted an option to purchase an additional 1 million shares on the same terms over 30 days after the closing of the offering. If that option is exercised in full, gross proceeds would be C$11.5 million.
The offering is expected to close on May 5, and the money will be used by the company to pay taxes on its property in Ontario.