1911 Gold (TSX-V:AUMB) has filed its final short-form prospectus for a $31 million bought-deal public offering.
The company filed the prospectus with securities commissions across Canada, excluding Québec, in connection with its multi-tranche financing arrangement.
The offering comprises several unit types at varying prices. The company will issue 7,812,500 units at $0.64 each, alongside 12,610,400 Canadian development expenses flow-through units priced at $0.793 per unit.
1911 Gold will also sell Canadian exploration expenses flow-through units across three tranches at different price points: $0.864, $1.011, and $0.752 per unit, respectively.
Haywood Securities leads the underwriting syndicate as sole bookrunner, working alongside BMO Nesbitt Burns, Roth Canada, and Velocity Trade Capital.
The underwriters hold a 30-day over-allotment option to purchase an additional 15% of the offering across all unit types.
The financing requires final approval from the TSX-V and is expected to close around July 29.
1911 Gold operates the True North Gold Project in Manitoba’s Rice Lake Greenstone Belt.
The company controls approximately 62,000ha containing multiple past-producing gold operations within trucking distance of its fully built and permitted mine and mill complex.
CEO Shaun Heinrichs leads the company’s strategy to develop a district-scale gold mining operation centred around existing infrastructure.
Write to JC Villarba at Mining.com.au
Images: 1911 Gold
