15:19:55 EST Mon 06 Dec 2021
Enter Symbol
or Name

Login ID:
Highgold Mining Inc
Symbol HIGH
Shares Issued 61,111,450
Close 2021-10-15 C$ 1.69
Recent Sedar Documents

Highgold arranges $10M bought deal, $5M financing

2021-10-18 10:38 ET - News Release

Mr. Darwin Green reports


Highgold Mining Inc. has entered into an agreement with Cormark Securities Inc., on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 6.25 million common shares from the treasury of the company at a price of $1.60 per common share for total gross proceeds to the company of approximately $10-million.

In addition, the company has granted to the underwriters an option to purchase up to an additional 15 per cent of the common shares of the offering on the same terms, exercisable at any time up to 30 days following the closing of the offering, solely for market stabilization purposes and to cover overallotments, if any.

Concurrently with the offering, the company intends to undertake a non-brokered private placement offering of common shares with an existing strategic investor, a senior gold producer, at the offering price for gross proceeds of approximately $5-million to bring the investor's interest in the company up to 9.9 per cent on a postoffering basis.

The net proceeds of the offering and the concurrent private placement are expected to be used for exploration and development initiatives in connection with the company's Johnson Tract project and for working capital and general corporate purposes.

The offering and concurrent private placement are expected to close on or about Oct. 27, 2021, or such other date as may be agreed by the company and Cormark in the case of the offering, or by the company and the strategic investor in the case of the concurrent private placement, subject to certain conditions, including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities, and the execution of a subscription agreement in connection with the concurrent private placement. The securities issued under the concurrent private placement will be subject to a standard four-month hold period in Canada.

The offering will be qualified by way of a prospectus supplement to the company's existing base shelf prospectus in the provinces of British Columbia, Alberta and Ontario. The prospectus supplement (together with the related base shelf prospectus) will be available on SEDAR.

About Highgold Mining Inc.

Highgold Mining is a mineral exploration company focused on high-grade gold projects located in North America. Highgold's flagship asset is the high-grade Johnson Tract gold project, located in accessible south-central Alaska, United States. The company also controls a portfolio of quality gold projects in the greater Timmins gold camp, Ont., Canada, that includes the Munro-Croesus gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. Highgold's experienced board and senior management team are committed to creating shareholder value through: the discovery process; careful allocation of capital; and environmentally/socially responsible mineral exploration.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.