Adventus Mining Announces Upsized Bought Deal Financing to $6 Million
TORONTO, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Adventus Mining Corporation (“Adventus Mining”) (TSX-V: ADZN, OTCQX: ADVZF) is pleased to announce that due to investor demand, it has amended the terms of its previously announced bought deal financing (the “Offering”) such that the syndicate of underwriters (the “Underwriters”) jointly led by Raymond James Ltd. and National Bank Financial Inc. has agreed to purchase on a bought deal basis 11,538,461 common shares of the Company (“Common Shares”) at a price of $0.52 per Common Share (the “Offering Price”) for gross proceeds to the Company of approximately $6 million, representing an increase from the previously announced Offering of 9,615,384 Common Shares at the Offering Price for total gross proceeds of approximately $5 million.
- In the event that the over-allotment option is exercised in full, the gross proceeds of the Offering will be approximately $6.9 million.
- The Company intends to use the net proceeds of the Offering for exploration activities at the Santiago Project, including drilling, as well as for working capital and general corporate purposes.
- The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S.
- Securities Act”), or any applicable U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S.