18:04:05 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Veris Gold Corp
Symbol VG
Shares Issued 139,073,869
Close 2013-11-27 C$ 0.34
Market Cap C$ 47,285,115
Recent Sedar Documents

Veris files final prospectus supplement for offering

2013-11-28 12:56 ET - News Release

Mr. Francois Marland reports

VERIS GOLD CORP. ANNOUNCES FILING OF FINAL PROSPECTUS SUPPLEMENT

Veris Gold Corp. has filed on Nov. 27, 2013, a final prospectus supplement in connection with its previously announced offering of units and flow-through units.

The company will issue 8,488,780 units at a price of 40.5 cents, which will comprise one common share of the company and one-half of one common share purchase warrant. Each warrant will have an exercise price of 50 cents and entitles the holder thereof to acquire one common share of the company for a period of 36 months following the closing of the offering.

The company will also issue 6,515,628 flow-through units only in Canada at a price of 43 cents which will comprise one common share of the company, which qualifies as a flow-through share within the meaning of the Income Tax Act (Canada), and one-half of one warrant.

The offering is being conducted on a best-efforts agency basis pursuant to an agency agreement among the company and Secutor Capital Management Corp. The company also granted the agent an overallotment option to purchase up to 2,250,661 securities comprising additional units and flow-through units to cover overallocations, if any, and for market stabilization purposes, such overallotment option exercisable for a period of 30 days from the closing of the offering. The closing of the offering is expected to occur on or about Nov. 29, 2013, or such later date as the company and the agent may agree.

The company intends to use the net proceeds of the offering to: make payments under the forward gold purchase agreement to which the company is a party; upgrade and refurbish the dry mill equipment at its Jerritt Canyon mill operations; complete the development of the underground mine facilities at the Saval 4 property; finance exploration activities at the company's Ketza River property from the gross proceeds from the sale of flow-through units; finance bonding related to future reclamation obligations; and finance general working capital.

The company has received conditional approval of the listing of the unit shares, the flow-through shares and the common shares issuable on exercise of the unit warrants and FT unit warrants on the Toronto Stock Exchange. Listing will be subject to satisfying all of the requirements of the TSX.

We seek Safe Harbor.

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