PopReach Corporation (TSXV: POPR) this morning announced that it is conducting a bought deal private placement for gross proceeds of $10.0 million. The financing, lead by Beacon Securities on behalf of a syndicate of underwriters, will see 8.0 million common shares of the issuer sold.
The financing is not to include any warrant in the offering, with common shares sold at $1.25 a piece. An over allotment option has also been granted for a period of 30 days, enabling the financing to be expanded by up to 15% upon exercise.
Proceeds from the offering are intended to be used for acquisitions, working capital, and general corporate purposes. The financing is expected to close by November 26, 2020.
Sponsored · Selkirk Copper Mines
PopReach Corp last traded at $1.50 on the TSX Venture.
Information for this briefing was found via Sedar, PopReach, and Refinitiv. 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.
