Nighthawk Gold announces C$25M bought deal financing

Apr. 11, 2022 4:41 PM ETNighthawk Gold Corp. (MIMZF), NHK:CABy: Manshi Mamtora, CFA
  • Nighthawk Gold (OTCQX:MIMZF) enters agreement with underwriters co-led by Sprott Capital Partners and Laurentian Bank Securities pursuant to which the underwriters have agreed to purchase, or arrange for substitute purchasers to purchase, (i) 10M units of the company at a price of C$0.70 per unit, (ii) 3.705M units of the company issued on a flow-through basis at a price of C$0.81 per FT unit, and (iii) 15.31M units of the company issued on a premium flow-through basis at a price of C$0.98 per premium FT Unit, for aggregate gross proceeds of C$25M, on a "bought deal" basis.
  • Offering is expected to close on or about May 3, 2022.
  • Net proceeds from the sale of the units will be used for general and administrative expenses and the gross proceeds from the sale of the FT Units and Premium FT Units will be used for exploration expenditures on Nighthawk's district-scale gold property located in Canada's Northwest Territories, with the focus on mineral resource expansion opportunities and testing greenfield targets.

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