Great Bear Resources (TSXV: GBR) is the latest firm to cash in on the frothy market environment, with the company this morning announcing a $37.2 million bought deal private placement of flow through common shares. The financing is being led by that of Cormark Securities and CIBC Capital Markets.
The financing will see the issuance of 2.0 million common shares of the company, at a price of $18.60 per flow through common share. No warrant is being issued in connection with the offering.
Gross proceeds from the financing are to be used for Canadian exploration expenses for the firms projects in Ontario.
The financing is expected to close on February 18, 2020.
Great Bear Resources last traded at $13.88 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.
The Grocery Grift: Why Toronto and New York Are About to Light Taxpayer Money on Fire