Allegiant Gold closes $5-million offering
Allegiant Gold Ltd (C:AUAU)
Shares Issued 78,360,608
Last Close 8/18/2021 $0.39
Thursday August 19 2021 – News Release
Mr. Peter Gianulis reports
ALLEGIANT CLOSES $5 MILLION BOUGHT DEAL OFFERING
Allegiant Gold Ltd. has completed its bought deal offering of units of the company previously announced July 26, 2021. The offering was led by Cormark Securities Inc. as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters including Canaccord Genuity Corp. and PI Financial Corp. The company issued a total of 12.5 million units at a price of 40 cents per unit for gross proceeds of $5-million. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 70 cents at any time up to Aug. 19, 2023, subject to the terms of a warrant indenture dated Aug. 19, 2021.
The company anticipates using the proceeds of the offering for the advancement of its Eastside project, working capital and general corporate purposes.
The units were sold under a short form prospectus dated Aug. 16, 2021, filed in all of the provinces of Canada except Quebec pursuant to National Instrument 44-101, Short Form Prospectus Distributions.
About Allegiant Gold Ltd.
Allegiant owns 100 per cent of 10 gold projects in the United States, seven of which are located in the mining-friendly jurisdiction of Nevada. Four of Allegiant’s projects are farmed out, providing for cost reductions and cash flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.