09:45:06 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Marathon Gold Corp
Symbol MOZ
Shares Issued 161,891,202
Close 2019-09-27 C$ 1.36
Market Cap C$ 220,172,035
Recent Sedar Documents

Marathon Gold closes $25.29M bought deal

2019-09-30 12:08 ET - News Release

Dr. Matthew Manson reports

MARATHON ANNOUNCES CLOSING OF $25,299,400 BOUGHT DEAL PRIVATE PLACEMENT

Marathon Gold Corp. has closed a bought deal private placement of an aggregate of: (i) 11.57 million units consisting of one common share of the corporation and one-half of one common share purchase warrant at a price of $1.32 per unit; and (ii) 5.42 million flow-through units consisting of one common share of the corporation and one-half of one common share purchase warrant issued as flow-through shares for purposes of the Income Tax Act (Canada)) at a price of $1.85 per flow-through unit for aggregate gross proceeds of $25,299,400, which includes the exercise in full of the underwriters' option to sell 2.71 million flow-through units. The offering was completed by a syndicate of underwriters co-led by Canaccord Genuity Corp. and Sprott Capital Partners LP by its general partner, Sprott Capital Partners GP Inc., and including RBC Dominion Securities Inc., Haywood Securities Inc. and National Bank Financial Inc.

The corporation intends to use the net proceeds of the offering to continue exploration and development of the Valentine gold project and for general corporate purposes. The proceeds received by the corporation from the sale of flow-through units will be used to incur Canadian exploration expenses that qualify as flow-through mining expenditures (within the meaning of the Income Tax Act (Canada)) related to the corporation's Valentine gold project in Newfoundland, Canada. The qualifying expenditures will be renounced to the subscribers with an effective date no later than Dec. 31, 2019, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of flow-through units.

About Marathon Gold Corp.

Marathon is a Toronto-based gold company rapidly advancing its 100-per-cent-owned Valentine gold project located in central Newfoundland, one of the top mining jurisdictions in the world.

We seek Safe Harbor.

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