The company will pay a cash finder’s fee of 6% of the aggregate proceeds raised from subscriptions arranged by certain finders.
Pure Gold may also issue an additional 66.7 million units, taking the gross proceeds up to C$40 million if there is a demand for them.
The largest shareholder of Pure Gold is AngloGold Ashanti, which has the right to maintain its pro rata ownership interest. AngloGold invested C$16 million for 30.2 million Pure Gold shares at C$0.53 each in January 2022, boosting its stake to 19.9% of Pure Gold.
Also in January, Pure Gold offered 17 million shares at the same price in a brokered offering. That offering was worth about C$9 million, and the underwriters had an overallotment of another 9.4 million shares which would raise an additional C$5 million.
The PureGold mine is one of the highest grade gold producers in the world. The mine has probable reserves of 3.5 million tonnes grading 8.97 g/t gold, containing…
