Strikepoint Gold (TSX-V:SKP) has increased its bought deal private placement to C$160 million ($224.88 million) following ‘strong’ investor demand.
The company amended its agreement with underwriter Canaccord Genuity to issue 80 million subscription receipts at C$2.00 each, up from the previously announced size.
Canaccord holds an option to purchase an additional 15 million subscription receipts for up to C$30 million in additional proceeds.
Each subscription receipt will convert to one post-consolidation common share upon satisfaction of escrow release conditions, including completion of the transaction announced on 19 August 2026 and receipt of required corporate and TSX Venture Exchange approvals.
Net proceeds will fund the cash component of the transaction, advance exploration and development at the Northumberland Gold Project in Nevada, US, and support general corporate purposes. Gross proceeds will be held in escrow for up to 45 days.
Recently acquired from Newmont (NYSE:NEM) for US$70 million ($98.38 million), Northumberland sits within Nevada’s Walker Lane belt and is now Strikepoint’s new flagship asset.
Certain directors, officers, and insiders are participating in the offering. Strikepoint notes it is exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.
All securities issued are subject to hold periods under National Instrument 45-102, though underlying shares will not be subject to hold period restrictions upon conversion. The transaction constitutes a fundamental acquisition under TSX-V Policy 5.3, and trading in Strikepoint shares remains halted pending completion.
Strikepoint Gold is a Vancouver-based multi-asset gold explorer focused on building precious metals resources in the US.
Write to Paula Fabe at Mining.com.au
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