Great Bear Increases Flow Through Financing To $69.9 Million

Great Bear Resources (TSXV: GBR) apparently has seen strong demand for the flow-through financing it announced this morning for $37.2 million. The company this evening increased the size of the financing to $69.9 million following this demand.

The flow through financing sees shares of the company being sold at a price of $18.60 per flow through share, with no warrant attached to the offering. In total, 3.2 million shares are to be sold under the offering, which is lead by Cormark Securities and CIBC Capital Markets. Also to be issued under the offering are 748,000 common shares of the issuer, at a price of $12.75 per share.

Proceeds from the flow through financing are to be utilized for exploration expenses, as per the Income Tax Act of Canada. Net proceeds from the sale of common shares meanwhile are to be used for working capital and general corporate purposes.

The financing is currently slated to close by February 18. 2021.

Great Bear Resources last traded at $14.25 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

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Treasury Metals Intersects 52.6 G/T Gold Over 15 Metres At Goliath Gold Deposit

Treasury Metals Inc. (TSX: TML) announced today results from the initial 12 holes out of...

Wednesday, October 13, 2021, 10:29:00 AM

Xander Resources Completes Excavation Work At Blue Ribbon Property

Xander Resources (TSXV: XND) this morning announced that it has recently completed excavation work at...

Monday, November 16, 2020, 09:17:23 AM

O2Gold Releases Details of 2021 Drill Program

O2Gold Inc (TSXV: OTGO) this morning announced that it has identified the first targets as...

Friday, May 21, 2021, 08:55:39 AM

GoGold Closes $28.8 Million Bought Deal Financing

GoGold Resources (TSX: GGD) this morning announced the closing of its previously announced bought deal...

Friday, May 7, 2021, 08:28:17 AM

Exploring The Abitibi For Gold – The Daily Dive feat Johnathan More of Starr Peak Exploration

Joining us this morning on the Daily Dive is that of Johnathan More, CEO of...

Tuesday, December 22, 2020, 01:30:00 PM