Gold Mountain Mining Corp.’s $18.5 Million Bought Deal Offering

Cassels acted for the underwriters on the deal.

On April 21, 2022, Gold Mountain Mining Corp. (TSE:GMTN) closed a bought deal public offering of 14,800,000 units of the company at a price of $1.25 per unit for aggregate gross proceeds of $18.5 million.

Gold Mountain intends to use the net proceeds of the offering for the development of the Elk Gold Project, for the repayment of certain debt obligations, and for working capital and general corporate purposes.

Eight Capital acted as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Canaccord Genuity Corp. and Research Capital Corporation.

Gold Mountain Mining Corp. is a BC based exploration and development company focused on the Elk Gold Project, a past producing and newly permitted mine located approximately 57 km from Merritt, BC. 

The Cassels’ team consisted of Chad Accursi (Picture), Kyle Simpson, Reza Sarsangi, Zahra Nurmohamed, Kimberly Dodson and Alex Slota. 

Involved fees earner: Chad Accursi – Cassels Brock & Blackwell LLP; Zahra Nurmohamed – Cassels Brock & Blackwell LLP; Reza Sarsangi – Cassels Brock & Blackwell LLP; Kyle Simpson – Cassels Brock & Blackwell LLP;

Law Firms: Cassels Brock & Blackwell LLP;

Clients: Canaccord Genuity G Ventures Corp.; Eight Capital Inc.; Research Capital Corporation;

Sonia Carcano

Author: Sonia Carcano