GoGold Announces Closing of C$65 Million
GoGold Announces Closing of C$65 Million
Bought Deal Financing
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./
Shares Outstanding: 325,278,261
Trading Symbols: TSX: GGD
HALIFAX, NS
,
Feb. 8, 2023
/CNW/ -
GoGold Resources Inc.
(TSX: GGD) ("
GoGold
" or the
"
Company
") is pleased to announce that it has closed its previously announced bought deal offering
(the "
Offering
") of 28,900,000 common shares (the "
Common Shares
") at a price of
C$2.25
per
Common Share, for aggregate gross proceeds of approximately
C$65 million
. The Offering was led
by BMO Capital Markets, along with a syndicate of underwriters including Desjardins Securities Inc.,
PI Financial Corp., Echelon Wealth Partners Inc., Eight Capital and Sprott Capital Partners LP
(collectively, the "
Underwriters
").
The Underwriters were paid a commission of 5.5% on the gross proceeds of the Offering. The net
proceeds of the Offering are intended to be used to support the continued advancement of the
Company's Los Ricos North and South projects. The Underwriters hold an option to purchase up to
an additional 4,335,000 Common Shares at a price of
C$2.25
per Common Share, exercisable in
whole or in part, on or before
March 10, 2023
.
The Offering was completed by way of short form prospectus in each of the provinces of
Canada
,
except Québec, pursuant to National Instrument 44-101 –
Short Form Prospectus Distributions
.
The securities offered in the Offering have not been registered under the United States Securities
Act of 1933, as amended (the "
U.S. Securities Act
"), or any U.S. state securities laws, and may
not be offered or sold in
the "United States
" (as such term is defined in Regulation S promulgated
under the U.S. Securities Act) absent registration or an applicable exemption from the registration
requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy securities in
the United States
,
nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on
operating, developing, exploring and acquiring high quality projects in
Mexico
. The Company
operates the Parral Tailings mine in the
state of Chihuahua
and has the Los Ricos South and Los
Ricos North exploration projects in the state of
Jalisco
. Headquartered in
Halifax, NS
, GoGold is
building a portfolio of low cost, high margin projects. For more information visit
gogoldresources.com.
CAUTIONARY STATEMENT:
This news release may contain "forward-looking information" as defined in applicable Canadian
securities legislation. All statements other than statements of historical fact included in this release
constitute forward-looking information that involve various risks and uncertainties. Forward-looking
information is based on a number of factors and assumptions which have been used to develop such
information but which may prove to be incorrect, including, but not limited to, general economic and
market conditions, the intended use of proceeds from the Offering, mineral prices and the accuracy
of mineral resource estimates. There can be no assurance that such information will prove to be
accurate and actual results and future events could differ materially from those anticipated in such
forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations
include exploration and development risks associated with the GoGold's projects, the failure to
establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations
of recovery rates and global economic conditions. For additional information with respect to risk
factors applicable to GoGold, reference should be made to GoGold's continuous disclosure
materials filed from time to time with securities regulators, including, but not limited to, GoGold's
Annual Information Form. The forward-looking information contained in this release is made as of the
date of this release.
SOURCE
GoGold Resources Inc.
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http://www.newswire.ca/en/releases/archive/February2023/08/c1062.html
%SEDAR: 00029249E
For further information:
Steve Low, Corporate Development, GoGold Resources Inc., T: 416 855
0435, Email: [email protected], Or visit: www.gogoldresources.com
CO: GoGold Resources Inc.
CNW 08:40e 08-FEB-23