- STLLR Gold (TSX:STLR) has closed its previously announced C$25.7 million bought-deal public offering led by Eric Sprott
- Sprott purchased hard-dollar units through 2176423 Ontario Ltd, a corporation he beneficially owns
- STLLR is a Canadian gold company developing two projects with the potential for long-life, large-scale operations
- STLLR Gold stock has given back 34.92 per cent since the merger that formed the existing company in February 2024
STLLR Gold (TSX:STLR) has closed its previously announced C$25.7 million bought-deal public offering led by Eric Sprott.
The miner issued 4,793,000 premium units on a charitable flow-through basis priced at C$1.565, 4,167,000 FT units on a flow-through basis priced at C$1.32, and 11,518,860 hard-dollar units priced at C$1.10, including a partial exercise of the over-allotment option. Read Tuesday’s news release for full details on the rights under each unit class.
STLLR will allocate proceeds from hard-dollar units to non flow-through operating expenses and to general corporate and working capital purposes. Proceeds from premium and FT units will go towards exploration expenditures on the Tower gold project in Timmins, Ontario, and the Colomac gold project in Northwest Territories.
Sprott purchased hard-dollar units through 2176423 Ontario Ltd, a corporation under his beneficial ownership, though the size of his investment was not disclosed. Additionally, certain STLLR officers and directors picked up 186,540 hard-dollar units under the offering.
Paradigm Capital led the offering, which also included SCP Resource Finance, BMO Capital Markets, Haywood Securities, National Bank Financial, Stifel Nicolaus Canada and Velocity Trade Holdings.
About STLLR Gold
STLLR is a Canadian gold company developing two projects with the potential for long-life, large-scale operations. The company’s management team boasts a track record of successfully advancing projects and operating mines.
STLLR Gold stock (TSX:STLR) is up by 3.8 per cent trading at C$0.82 per share as of 11:48 am ET. The stock has given back 34.92 per cent since the merger that formed the existing company in February 2024.
Join the discussion: Find out what everybody’s saying about Eric Sprott’s investment in this Canadian gold stock on the STLLR Gold Inc. Bullboard and check out the rest of Stockhouse’s stock forums and message boards.
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(Top photo of Keyvan Salehi, STLLR Gold’s president and chief executive officer: STLLR Gold)