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United States : Newstrike Closes C$24.8 Million Bought Deal Private Placement
Publish Date : 22-Mar-2012
Newstrike Capital Inc. (“Newstrike” or the “Company”) is pleased to announce that it has closed its previously announced C$24.8 million bought deal private placement of common shares. Newstrike issued a total of 8,000,000 common shares at a price of C$3.10 per common share raising gross proceeds of C$24.8 million (the “Private Placement”). The private placement financing was placed by a syndicate of underwriters led by Cormark Securities Inc. and including GMP Securities L.P., Scotia Capital Inc., Euro Pacific Canada Inc., Desjardins Securities Inc., Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. (collectively, the “Underwriters”).
The net proceeds of the Private Placement will be used for continued exploration of the Company’s Ana Paula project as well as other exploration activities within the Guerrero Gold Belt and for general corporate purposes and working capital.
In connection with the offering, the Underwriters were paid a cash commission in an amount equal to 5.0% of the gross proceeds of the financing.
The common shares issued pursuant to the private placement will be subject to a 4-month hold period expiring on July 21, 2012.
