Great Bear Conducts $20 Million Flow-Through Bought Deal

Great Bear Resources (TSXV: GBR) this morning announced that it will be conducting a bought deal flow-through financing led by Canaccord Genuity to the tune of $20.0 million. The financing will be utilized for “Canadian exploration expenses,” as described within the Income Tax Act, for the firms notable projects in Ontario.

The pricing of the bought deal is notable, with each flow through unit being sold at a price of $17.00. Each unit consists of one common share, with a total of 1,176,500 common shares being issued under the agreement. An over-allotment option is also present, representing an additional 176,475 flow-through units.

The financing is anticipated to close by June 2, 2020, after which the shares will be subject to a four month hold period. The company intends to renounce the associated exploration expenses to purchasers by December 31, 2020.

Great Bear Resources last traded at $11.98 on the TSX Venture.


Information for this briefing was found via Sedar and Great Bear Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Superior Gold To Raise $15.0 Million Through Bought Deal

Superior Gold (TSXV: SGI) this morning announced that it will be conducting a bought deal...

Tuesday, October 13, 2020, 09:13:18 AM

Montage Gold Sees Resource Estimate Improved To 3.16 Million Ounces At 0.80 G/T Gold

Montage Gold Corp (TSXV: MAU) this morning released an updated inferred mineral resource estimate for...

Thursday, January 28, 2021, 07:32:38 AM

Candelaria Mining Increases Financing To $9.3 Million

Candelaria Mining (TSXV: CAND) has upsized a previously announced private placement. Originally pegged at $7.8...

Wednesday, September 22, 2021, 08:47:24 AM

i-80 Gold Reports Revenue Of $10.3 Million For Q2 2021

i-80 GOLD CORP. (TSX: IAU) late last night posted its financial results for the second...

Wednesday, August 11, 2021, 08:37:35 AM

Lundin Gold Sees Local Unrest Directed At Firm At Fruta del Norte Operation

Lundin Gold (TSX: LUG) is facing local community unrest near its Fruta del Norte gold...

Tuesday, October 20, 2020, 09:11:44 AM