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Corvus Gold arranges $12.6M (U.S.) ATM facility
2021-01-29 19:39 ET - News Release
Mr. Jeffrey Pontius reports
CORVUS GOLD ESTABLISHES ATM FACILITY TO BE USED OVER 12 MONTHS AT THE COMPANY'S DISCRETION THROUGH THE NASDAQ
Corvus Gold Inc. has entered into an at-the-market (ATM) offering agreement with H.C. Wainwright & Co. LLC as sales manager. Pursuant to the ATM agreement, the company may offer and sell its common shares at its discretion only through the Nasdaq Capital Market, having an aggregate gross sales value of up to $12.6-million (U.S.) in an at-the-market offering over a period up to 12 months from this announcement. The ATM agreement will remain in full force and effect until the ATM agreement is terminated in accordance with the terms therein.
The common shares will be issued from treasury to the public at the prevailing market price at the time of sale when sold through distributions directly on Nasdaq or other established United States trading market. As a result, prices of common shares sold under the ATM agreement, if any, may vary between purchasers and distributions. Under the ATM agreement, no offers or sales of common shares will be made in Canada, including through the Toronto Stock Exchange or other trading markets in Canada.
The offering of common shares under the ATM agreement will be made by way of a prospectus supplement anticipated to be filed on Feb. 1, 2021, to the base prospectus contained in the company's existing United States shelf registration statement on Form S-3 (file No. 333-229516), which became effective on Feb. 19, 2019. The common shares may be offered only by means of a prospectus, including a prospectus supplement, forming a part of an effective registration statement. The prospectus supplement will be and the base prospectus has been filed with the United States Securities and Exchange Commission and, together with the related registration statement, are or will be available on the SEC's website. Alternatively, electronic copies of the prospectus supplement and accompanying base prospectus may be obtained, when available, upon request by contacting H.C. Wainwright & Co., 430 Park Ave., third floor, New York, N.Y., 10022, at placements@hcwco.com or by telephone at 646-975-6996.
The company will pay Wainwright a commission equal to 3 per cent of the gross sales price from sales, if any, of the common shares sold under the ATM agreement.
About the North Bullfrog and Mother Lode projects, Nevada
Corvus controls 100 per cent of its North Bullfrog project, which covers approximately 90.5 square km in southern Nevada. The property package is made up of a number of private mineral leases of patented federal mining claims and 1,134 federal unpatented mining claims. The project has excellent infrastructure, being adjacent to a major highway and power corridor as well as a large water right. The company also controls 445 federal unpatented mining claims on the Mother Lode project, which totals approximately 36.5 square km, which it owns 100 per cent. The total Corvus 100-per-cent land ownership now covers over 127 square km, hosting two major new Nevada gold discoveries.
About Corvus Gold Inc.