Mr. David Suda reports
TERRAX ANNOUNCES EXERCISE IN FULL OF OVER-ALLOTMENT OPTION IN CONNECTION WITH RECENTLY COMPLETED C$5 MILLION FINANCING
BMO Capital Markets has exercised in full its overallotment option to purchase an additional two million common shares in the capital of the company, in connection with the company's recently completed bought deal offering of $5-million which closed on Dec. 27, 2019. On closing of the overallotment option, the company will have issued 22 million common shares for gross proceeds of $5.5-million pursuant to the offering.
The overallotment option is expected to close on or about Jan. 17, 2020. As previously announced, the net proceeds of the offering will be used to advance exploration at the company's wholly owned Yellowknife City gold project, for working capital and for general corporate purposes.
We seek Safe Harbor.
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