I hope you chaps like thisEric Sprott looks after Eric Sprott and his rich buds and maybe throws a few crumbs
to the small shareholders.Eric Sprott via private placement raise $60 million for MAG
and guess who blesses the merger with MAG and GTR - Eric Sprott..Nav is ther too.
Eric was invloved with Kirk Land lake which has a producing ming at Larder Lake near
GTR's properpty. That explains the GTR give away !!!!!!!!!!!
MAG Silver Announces a $60 Million Private Placement
Vancouver, B.C. MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”) MAG is pleased to announce that it has arranged a non-brokered private placement with Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially controlled by him, offering 4,528,302 common shares of MAG (the “Common Shares”) at a price of C$13.25 per Common Share for gross proceeds of C$60,000,002 (the “Offering”).
MAG intends to use the net proceeds of the Offering to fund exploration and development of the Juanicipio Project and for working capital and general corporate purposes. The Offering is expected to close on or before April 30, 2020, subject to satisfaction of customary closing conditions including the approval of the Toronto Stock Exchange.
Any securities issued pursuant to the Offering will be subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from the date of closing of the Offering. A finders’ fee is payable in connection with the Offering.
“Mr. Sprott has recognized this as an investment opportunity in a world class silver project which is heading into cash flow in the near future.” said George Paspalas, President and CEO of MAG. “We understand this is Mr. Sprott’s largest single investment in the silver space, and would like to thank him for his strong sign of support.”
The securities to be issued under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of MAG’s securities in the United States.
This from March 11 GTR NR:
Boards of directors recommendation and voting support
The arrangement has been unanimously approved by the boards of directors of both Mag Silver and Gatling. Directors and officers of Gatling, along with Gatling's largest shareholder, Sprott Asset Management LP, holding in the aggregate 15.19 per cent of the outstanding Gatling shares, have each entered into customary voting and support agreements to, amongst other things, vote in favour of the arrangement at the special meeting of Gatling securityholders to be held to consider the transaction.