GoldSpot Discoveries Corp. (TSXV: SPOT) announced this morning that it has entered into an agreement with Canaccord Genuity Corp to conduct a bought deal financing. The financing will see Goldspot conduct a financing for aggregate gross proceeds of $10 million.
Under the terms of the financing, GoldSpot will be selling 12.5 million common shares at $0.80 per share. No warrants are being offered under the financing. In addition, an over-allotment option has been issued, enabling the company to raise up to an additional $1.5 million under the terms of the financing.
The offering is scheduled to close on June 1, 2021, subject to regulatory approvals.
The company indicated it intends to use the bought deal proceeds for research and development, investment capital, and general corporate expenses.
GoldSpot Discoveries Corp. last traded at $0.86 on the TSX Venture.
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