2023-03-29 09:26:36 ET
Montage Gold ( TSXV: MAU:CA ) ( OTCQX:MAUTF ) said Wednesday it entered into an agreement on behalf of a syndicate of underwriters for a "bought deal" private placement.
The company will offer of 21,428,600 common shares at $0.70 per share for gross proceeds of $15 million under the private placement.
Canaccord Genuity is serving as the lead underwriter for the private placement offering.
The net proceeds from offering is intended to be used for the company's ongoing exploration and drilling program at the Koné Gold Project.
The offering is expected to close on or about April 12, 2023.
The company has also granted the underwriters an option to sell up to an additional 1,072,000 shares at $0.70 apiece to raise up to $750,400.
For further details see:
Montage Gold launches $15M bought deal offering