Saturday, May 31, 2025

Latest

Marathon Gold Conducts $30 Million Bought Deal Financing

The demand for gold and gold miners is heating up. Friday night after the bell, Marathon Gold (TSX: MOZ) announced that it would be conducting a bought deal financing via a syndicate of underwriters for gross proceeds of $30 million.

The bought deal will see a smattering of involvement from investment banks, with the financing being co-led by Canaccord Genuity, Sprott Capital Partners and RBC Capital Markets, signifying that i-banks as a whole are returning their attention to the gold sector. The financing will see 20,000,000 units of Marathon Gold sold for $1.50 each, providing gross proceeds of $30 million.

Each unit will consist of one common share and one half warrant with an exercise price of $1.90 for a period of 12 months from the date of closing. An over-allotment option of 3,000,000 units has also been granted to the underwriters, which would bring in an additional $4.5 million for the miner.

Proceeds from the financing are to be used to advance Marathon’s 100% owned Valentine Gold Project located in Newfoundland, including the permitting, development and exploration of the property. Remaining funds will be used for working capital and general corporate purposes. Closing of the offering is anticipated to occur May 26.

Marathon Gold last traded at $1.67 per share.


Information for this briefing was found via Sedar and Marathon Gold. The author has no 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.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Dundee Precious Metals Buys INV Metals To Expand Operations To Three Continents

On May 31, Dundee Precious Metals Inc. (TSX: DPM) surprisingly (at least to us) announced...

Friday, June 4, 2021, 04:39:00 PM

CME Group To Change Gold Futures Contracts, Increases Margin Requirements

Yesterday, we covered why there was up to a 4% price disparity between the spot...

Wednesday, March 25, 2020, 12:44:00 PM

Newmont Slumps After Announcing Revised $16.9 Billion Deal To Acquire Newcrest

Colorado-based gold producer Newmont Corp (NYSE: NEM) announced a $16.9 billion bid for Australian miner...

Monday, February 6, 2023, 07:35:44 AM

Exploits Discovery Receives Final Permits For 2021 Drill Programs

Exploits Discovery (CSE: NFLD) this morning revealed that it has received its fifth and final...

Thursday, May 6, 2021, 09:02:05 AM

Gold Play: How to Structure a No-Dilution Mining Deal with Majors | Chad Peters – Ridgeline Minerals

In this interview, Chad Peters, President & CEO of Ridgeline Minerals Corp. (TSXV: RDG), outlines...

Wednesday, December 4, 2024, 01:15:00 PM