GVXXF - GoviEx Announces $8 Million Bought Deal Offering | Benzinga
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Dec. 04, 2023 (GLOBE NEWSWIRE) -- GoviEx Uranium Inc. ("GoviEx" or the "Company") (TSXV:GXU, OTCQB:GVXXF) is pleased to announce that it has entered into an agreement with Eight Capital, pursuant to which Eight Capital will purchase 50,000,000 units of the Company (the "Units") on a "bought deal" basis pursuant to the filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $0.16 (the "Issue Price") for aggregate gross proceeds of $8,000,000 (the "Offering").
Each Unit will be comprised of one common share of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional Common Share at an exercise price equal to the United States dollar equivalent of $0.21 (the foreign exchange rate to be set based on the Bank of Canada daily exchange rate for United States dollars one business day prior to the Closing Date (as defined below)) for a period of 36 months following the closing date of the Offering.
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, and/or the components thereof, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering.
The Company intends to use the net proceeds of the Offering for exploration, engineering and general corporate and working capital purposes.
The closing of the Offering is expected to occur on or about December 22, 2023 (the "Closing Date"), and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction. No securities may be offered or sold in the United States or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities ...