13:09:40 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Gold Standard Ventures Corp
Symbol GSV
Shares Issued 123,739,878
Close 2015-01-28 C$ 0.58
Market Cap C$ 71,769,129
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Gold Standard arranges $9.9-million bought deal

2015-01-28 15:43 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD PRICES OFFERING OF COMMON SHARES

Gold Standard Ventures Corp., pursuant to its public offering of common shares announced on Jan. 26, 2015, has entered into an underwriting agreement with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including H.C. Wainwright & Co. LLC, to purchase a total of 17 million common shares of the company at a price of 47 U.S. cents (58 cents) per common share to raise gross proceeds of approximately $8-million (U.S.) (approximately $9.9-million).

The company will today file a final prospectus supplement to its short-form base prospectus dated June 23, 2014, with the securities regulators in each of British Columbia, Alberta and Ontario, and a final prospectus supplement to a registration statement on Form F-3 (registration No. 333-196751) with the United States Securities and Exchange Commission.

The company has granted the underwriters an overallotment option to purchase additional common shares up to 15 per cent of the common shares sold pursuant to the offering. The overallotment option will be exercisable for a period of 30 days from the date of filing of the final prospectus supplements for the offering.

The company intends to use the net proceeds of this offering (after deduction of underwriter fees and expenses of the offering) to pay the balance due to Scorpio Gold Corp. in connection with the company's acquisition of the Pinion deposit, finance additional drilling and exploration of the company's Pinion project as recommended in the Pinion technical report dated Oct. 24, 2014, conduct further exploration on the Railroad project, rectify the company's current working capital deficiency, and for general corporate and working capital purposes.

H.C. Wainwright & Co. will only make offers and sales of the common shares in the U.S.

The company has applied to list the common shares on the TSX Venture Exchange and the New York Stock Exchange MKT LLC. Listing will be subject to the company fulfilling all of the listing requirements of the TSX-V and the NYSE MKT.

Closing of the offering is anticipated to occur on Feb. 3, 2015.

On Jan. 27, 2015, the last trading day before filing of the prospectus supplement, the noon exchange rate as reported by the Bank of Canada for the conversion of Canadian dollars into U.S. dollars was $1 per 80.62 U.S. cents.

Copies of the final prospectus supplement and short-form base prospectus as filed in each of B.C., Alberta and Ontario, and the final prospectus supplement and Form F-3 registration statement as filed with the SEC, may be obtained from Macquarie Capital Markets at suite 3100, Brookfield Place, 181 Bay St., Toronto, Ont., M5J 2T3, attention Linda Lang; or by phone at 1-416-848-3603.

We seek Safe Harbor.

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