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.
© 2024 Canjex Publishing Ltd. All rights reserved.