SolGold PLC £45 MILLION BOUGHT DEAL (9678V)
November 08 2017 - 10:43AM
UK Regulatory
TIDMSOLG
RNS Number : 9678V
SolGold PLC
08 November 2017
8 November 2017
SolGold plc
("SolGold" or the "Company")
SOLGOLD ANNOUNCES GBP45 MILLION BOUGHT DEAL PRIVATE PLACEMENT OF
ORDINARY SHARES
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION TO UNITED STATES
SolGold (LSE and TSX code: SOLG) is pleased to announce that it
has entered into an agreement with a syndicate of underwriters led
by National Bank Financial Inc. and Canaccord Genuity Corp.
(collectively, the "Underwriters") pursuant to which the
Underwriters have agreed to purchase, on a bought deal private
placement basis, 180,000,000 ordinary shares (the "Ordinary
Shares") of SolGold at a price of 25 pence (C$0.42) per Ordinary
Share for aggregate gross proceeds of GBP45,000,000 (C$75,600,000)
(the "Offering").
The Company intends to use the net proceeds of the Offering for
exploration and studies to advance its flagship Cascabel Project,
selective regional exploration in Ecuador, working capital and
general corporate purposes.
The Offering is expected to close on or about November 30, 2017
and is subject to certain closing conditions including, but not
limited to, the receipt of all necessary approvals including the
conditional listing approval of the London Stock Exchange (the
"LSE") and the Toronto Stock Exchange (the "TSX") and the
applicable securities regulatory authorities. The Offering is being
made by way of private placement in the United Kingdom, Canada and
the United States. The securities issued in Canada under the
Offering will be subject to a hold period expiring four months from
the closing date of the Offering. The Offering is subject to final
acceptance of the LSE and TSX.
The securities offered have not been and will not be registered
under the U.S. Securities Act of 1933 and may not be offered or
sold in the United States absent registration or an applicable
exemption from the registration requirements of such Act. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy securities in any jurisdiction.
CONTACTS
Mr Nicholas Mather Tel: +61 (0) 7 3303 0665
SolGold Plc (Executive +61 (0) 417 880 448
Director)
nmather@solgold.com.au
Mr Karl Schlobohm Tel: +61 (0) 7 3303 0661
SolGold Plc (Company Secretary)
kschlobohm@solgold.com.au
Mr Ewan Leggat / Mr Richard Tel: +44 (0) 20 3470 0470
Morrison
SP Angel Corporate Finance
LLP
ewan.leggat@spangel.co.uk
Follow us on twitter @SolGold_plc
ABOUT SOLGOLD
SolGold is a Brisbane, Australia based, dual LSE and TSX--listed
(SOLG on both exchanges) copper gold exploration and future
development company with assets in Ecuador, Solomon Islands and
Australia. SolGold's primary objective is to discover and define
world--class copper--gold deposits. The Board and Management Team
have substantial vested interests in the success of the Company as
shareholders as well as strong track records in the areas of
exploration, mine appraisal and development, investment, finance
and law. SolGold's experience is augmented by state of the art
geophysical and modelling techniques and the guidance of porphyry
copper and gold expert Dr Steve Garwin.
CAUTIONARY NOTICE
News releases, presentations and public commentary made by
SolGold plc (the "Company") and its Officers may contain certain
statements and expressions of belief, expectation or opinion which
are forward looking statements, and which relate, inter alia, to
interpretations of exploration results to date and the Company's
proposed strategy, plans and objectives or to the expectations or
intentions of the Company's Directors. Such forward-looking and
interpretative statements involve known and unknown risks,
uncertainties and other important factors beyond the control of the
Company that could cause the actual performance or achievements of
the Company to be materially different from such interpretations
and forward-looking statements. Accordingly, the reader should not
rely on any interpretations or forward-looking statements; and save
as required by the exchange rules of the TSX and LSE or by
applicable laws, the Company does not accept any obligation to
disseminate any updates or revisions to such interpretations or
forward-looking statements. The Company may reinterpret results to
date as the status of its assets and projects changes with time
expenditure, metals prices and other affecting circumstances.
This release may contain "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
statements regarding the Company's plans for developing its
properties. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: transaction risks; general business, economic,
competitive, political and social uncertainties; future prices of
mineral prices; accidents, labour disputes and shortages and other
risks of the mining industry. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 08, 2017 11:43 ET (16:43 GMT)
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