11:02:46 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Sabina Gold & Silver Corp
Symbol SBB
Shares Issued 199,888,662
Close 2016-05-19 C$ 1.64
Market Cap C$ 327,817,406
Recent Sedar Documents

Sabina Gold closes $32.25-million bought deal

2016-05-20 09:11 ET - News Release

Mr. Bruce McLeod reports

SABINA CLOSES $32 MILLION BOUGHT DEAL FINANCING

Sabina Gold & Silver Corp. has closed its previously announced bought deal financing. The offering comprised 18.41 million common shares of the company at $1.63 per share.

In addition, the overallotment option granted to the underwriters was exercised in part for 1,380,750 common shares at $1.63 per share. This financing and the overallotment are closed, bringing total gross proceeds of $32,258,922.50.

The financing was underwritten by a syndicate of underwriters led by BMO Capital Markets, and included Canaccord Genuity Corp. and Cormark Securities Inc. as co-lead underwriters, RBC Dominion Securities Inc., Dundee Securities Ltd., Haywood Securities Inc., National Bank Financial Inc., and Paradigm Capital Inc. The underwriters received a cash commission of 5 per cent of the gross proceeds from this financing.

"This financing provides the company with the ability to continue derisking Back River by progressing with detailed engineering, as well as completing work required for the regulatory phase of the permitting process (namely the Type A water licence)," said Bruce McLeod, president and chief executive officer. "Additionally, we remain focused on work to optimize the project, including metallurgical studies, as well as opportunities to unlock the imbedded future growth on this prospective district through desktop and field exploration work. We believe this is the optimal path for continued creation of shareholder value."

We seek Safe Harbor.

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