Effective Feb. 24, 2022, the company's short form prospectus dated Feb. 23, 2022, was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the British Columbia Securities Commission, pursuant to the provisions of the Securities Act.
The TSX Venture Exchange has been advised that closing occurred on Feb. 28, 2022, for gross proceeds of $5,604,970.86 (including exercise in full of the underwriters' overallotment option).
Underwriters: Stifel Nicolaus Canada Inc., BMO Nesbitt Burns Inc. and Beacon Securities Ltd.
Offering: 4,761,966 common shares (including the full exercise of the overallotment option);
8,046,700 flow-through shares;
8,912,500 charitable flow-through shares
Share price: 21 cents per common share;
24 cents per flow-through share;
30 cents per charitable flow-through share
Underwriters' commission: $392,347.96 cash
Overallotment option: The company granted the underwriters an option to purchase an additional 2,833,195 common shares, being 15 per cent of the securities issued. The underwriters exercised the option in full on closing.
For further details, please refer to the prospectus and the company's news releases dated Feb. 9, 2022, and Feb. 28, 2022, all of which are filed on the company's SEDAR profile.
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