Monarch Mining Corporation Closes Upsized C$6.7 Million Bought Deal Private Placement of Units
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MONTREAL, June 29, 2021 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) is pleased to announce that it has closed its previously announced bought deal private placement for aggregate gross proceeds of C$6,655,600 (theOffering). - The Offering consisted of the issuance of 8,319,500 units of the Corporation (the Units) at a price of C$0.80 per Unit.
- Each Unit consists of one common share of the Corporation (a Common Share) and one-half of one Common Share purchase warrant (each whole purchase warrant, a Warrant).
- Monarch Mining Corporation (TSX: GBAR) is a fully integrated mining company that owns four advanced projects, including the fully permitted past-producing Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years.