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.
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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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