/ / / BUSINESS: G Mining Ventures Announces Closing Of $70.5 Million Bought Deal Private Placement
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BUSINESS: G Mining Ventures Announces Closing Of $70.5 Million Bought Deal Private Placement

By Daniel Webster, dWeb.News Publisher

| Source: G Mining Ventures Corp.

All amounts are in CAD unless stated otherwise


BROSSARD, Quebec, Sept. 15, 2021 (GLOBE NEWSWIRE) — G Mining Ventures Corp. (“GMIN” or the “Corporation“) is pleased to announce that it has completed its previously announced bought deal private placement (the “Offering“) of units (the “Units“) with a syndicate of underwriters led by Sprott Capital Partners LP (“Sprott“) and BMO Capital Markets, and including PI Financial Corp. and Paradigm Capital Inc. (collectively, the “Underwriters“). Pursuant to the Offering, GMIN has issued an aggregate of 74,224,042 Units at a price of $0. 95 per Unit (the “Offering Price“) for aggregate gross proceeds of $70,512,839. 90, including the exercise by the Underwriters of the over-allotment option to purchase an additional 524,042 Units at the Offering Price.

Each Unit consists of one common share of the Corporation (each a “Common Share“) and one-half of one common share purchase warrant (each full warrant, a “Warrant“). Each Warrant is exercisable to acquire one Common Share at any time until September 15, 2024, at an exercise price of $1.90. If at any time after January 16, 2022, the volume weighted average closing price of the Common Shares on the TSX Venture Exchange or such other stock exchange on which the Common Shares are principally traded is equal to or greater than $3. 00 for a period of 10 consecutive trading days, the Corporation may, at its option, elect to accelerate the expiry of the Warrants by the issuance of a press release announcing such acceleration within 10 calendar days following the end of such 10 consecutive trading day period, in which case the Warrants will expire on the date specified in such press release, which shall be not less than 30 calendar days following the issuance of such press release.

In connection with the Offering, the Underwriters received an aggregate fee equal to 5.5% of the gross proceeds from the Offering (the “Commission“), Sprott having elected to receive 715,500 Units at the Offering Price in lieu of a portion of the Commission otherwise payable to it. The Corporation plans to use net proceeds from this Offering for general corporate and working capital purposes.

All Common Shares and Warrants issued pursuant to the Offering are subject to a four-month hold period under applicable securities laws in Canada which expires on January 16, 2022.

This press release does not constitute an offer or solicitation to sell securities. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.

About G Mining Ventures Corp.

The Corporation is a mineral exploration company which, up until now, has conducted exploration and development of the Cameron Lake Property, located in the west-central part of Quebec, and has more importantly pursued its objective of acquiring a significant precious metal asset. Accordingly, in its latest press release dated August 9, 2021, the Corporation announced the signing of a definitive agreement with Eldorado Gold Corporation for the acquisition of the Tocantinzinho Gold Project located in northern Brazil.

For further information on GMIN, please visit the website at or contact:

Dusan Petkovic

Vice President, Corporate Development & Investor Relations


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statement on Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to the future exercise of warrants and potential proceeds derived therefrom; the use of the Offering’s proceeds and, more generally, GMINs objective of acquiring the Tocantinzinho Gold Project or any other significant precious metal asset in 2021.

Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements must be based on several assumptions and estimates that are considered reasonable by the Corporation at the time of these statements. These statements can also be affected by significant business, economic, and competitive uncertainties. These assumptions and estimates may be wrong. These uncertainties and contingencies could directly or indirectly impact, or cause, actual results to differ materially, from those implied or expressed in forward-looking statements. There can be no assurance that the Corporation will acquire the Tocantinzinho Gold Project or any other significant precious metal asset in 2021, or ever, as future events could differ materially with what is currently anticipated by the Corporation.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are made to inform about management’s future plans and expectations. These forward-looking statements are not intended to be relied upon by readers. Future events and many other important risks could cause actual outcomes to differ materially. These cautionary statements, as well as those made by the Corporation with Canadian securities regulators, are included in this press release. They also appear on the Corporation profile on The Corporation warns that there are many factors that could affect future results and that new, unforeseeable risks can arise.
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