Latest news with #CormarkSecurities
Yahoo
30-07-2025
- Business
- Yahoo
Metallic Minerals Closes C$6 Million Brokered Private Placement Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / / July 30, 2025 / Metallic Minerals Corp. (TSX-V:MMG)(OTCQB:MMNGF)(FSE:9MM1) (the "Company" or "Metallic") is pleased to announce that it has completed its previously announced brokered private placement financing (the "Offering"), including the exercise in full of the over-allotment option, for total gross proceeds of C$6,000,024 from the sale of 25,000,100 units of the Company (each, a "Unit") at a price of C$0.24 per Unit. Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of C$0.34 at any time on or before July 30, 2027. Cormark Securities Inc., as lead agent, and Canaccord Genuity Corp., SCP Resource Finance LP, and Beacon Securities Limited, acted as agents in connection with the Offering (collectively, the "Agents"). The Units were sold in Canada in accordance with the listed issuer financing exemption under National Instrument 45-106 - Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The Common Shares and Warrants are freely tradeable in Canada in accordance with applicable Canadian securities legislation. The Units were also sold in the United States pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended(the "U.S. Securities Act") and in offshore jurisdictions in accordance with applicable securities legislation. There is an offering document related to the Offering that can be accessed under the Company's profile at and on the Company's website at: (the "Offering Document"). The Company intends to use the net proceeds of the Offering to advance its La Plata copper-silver-gold-PGE project located in southwestern Colorado, USA, exploration at its Keno Silver project and other properties in Yukon, Canada, and for working capital and general corporate purposes, as described further in the Offering Document. Newmont Corporation, through its wholly-owned subsidiary, Newcrest International Pty Ltd., ("Newmont") has indicated that it intends to exercise its participation rights pursuant to the investor rights agreement with the Company dated May 18, 2023, to maintain its pro rata shareholding in the Company in connection with the Offering. No commission or other fees will be made to the Agents in connection with any participation by Newmont. To accommodate participation by management and insiders, along with the anticipated participation of Newmont (an insider of the Company), a separate non-brokered private placement is expected to follow which shall constitute a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the related parties in the private placements in reliance on the exemptions contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively. The Company did not file a material change report at least 21 days before the expected closing date of the Offering as the insider participation had not been confirmed at that time and the Company wished to close the Offering as expeditiously as possible. Any securities issued to the foregoing management and insiders under the current Offering or the subsequent private placement will be subject to a hold period expiring four months and one day following the issue date. As consideration for their services under the Offering, the Agents received aggregate cash fees of C$247,530.24 and were issued at total of 1,031,375 non-transferable broker warrants of the Company (the "Broker Warrants"). Each Broker Warrant is exercisable into one Common Share at a price of C$0.34 per Common Share at any time on or before July 30, 2027. In connection with the Offering, the Company has also paid finder's fees totaling $29,000 to certain finders other than the Agents. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. About Metallic Minerals Corp. Metallic Minerals Corp. is a resource-stage mineral exploration company, focused on copper, silver, gold, platinum group elements, and other critical minerals at the La Plata project in southwestern Colorado and the Keno Silver project adjacent to Hecla Mining's Keno Hill silver operations in the Yukon Territory. The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in North America, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team is committed to responsible and sustainable resource development and has worked closely with Canadian First Nation groups, U.S. Tribal and Native Corporations, and local communities to support successful project development. FOR FURTHER INFORMATION, PLEASE CONTACT: and info@ Phone: 604-629-7800Toll Free: 1-888-570-4420 Forward-Looking Statements This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, title, expected results of operations, as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, unanticipated environmental impacts on operations and costs to remedy same and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Metallic Minerals Corp. View the original press release on ACCESS Newswire
Globe and Mail
11-07-2025
- Business
- Globe and Mail
Alberta's ATB Financial in talks to buy investment bank Cormark Securities
ATB Financial is in talks to acquire Cormark Securities Inc., according to sources familiar with the process, a takeover that would make the Alberta government-owned financial institution a national player in a sector consolidating around the banks and boutique advisory firms. If Edmonton-based ATB Financial can close the purchase, which is estimated to cost more than $35-million, it would mark a significant expansion for a provincial player traditionally focused on raising money for oil patch clients. The two companies are still negotiating, and a deal may not be concluded, sources say. Toronto-based Cormark, owned by its 100 employees, is one of the few remaining independent dealers offering its clients - companies and institutional investors - a full menu of services, including stock trading, sales and research. The downturn in financing activity at small- to mid-sized public companies, along with a two-year drought in initial public offerings, prompted Cormark executives to launch talks with potential partners and buyers, including ATB Financial, according to five sources familiar with the sales process. The Globe and Mail agreed not to name the sources because they are not authorized to speak for Cormark and ATB Financial. Over the past two years, Cormark pitched at least two other potential buyers - St. Petersburg, Fla.-based Raymond James Ltd. and Canadian Western Bank, which was headquartered in Edmonton - prior to opening talks with ATB Financial, according to two of the sources. In February, National Bank of Canada bought Canadian Western. ATB said Friday it had no comment on the talks. 'Like many organizations, ATB continually explores various strategic options to enhance our business growth and shareholder value. It is not appropriate to comment on rumours or speculation,' the company said in an e-mailed statement. Cormark chief executive officer Susan Streeter also declined to comment Friday on a potential transaction. Cormark has an estimated $35-million in capital and its employee owners are targeting a premium on this capital in a sale, according to one source. There are differences in the cultures of ATB Financial, which owns energy-focused investment bank ATB Capital Markets, and Cormark, which serves a broad array of mid-sized companies. Some Cormark employees may choose to depart, rather than work for a government-owned financial institution, three of the sources suggested. ATB Financial has previously used acquisitions to expand its business. In 2024, the company bought BCV Asset Management Inc., a Winnipeg-based fund manager with $5.8-billion in assets under management. When ATB Financial chief executive officer Curtis Stange announced the BCV purchase, he said: 'ATB Financial has been pursuing new opportunities to partner with leading firms that will create long-term value for our clients.' Between 2018 and 2020, ATB Financial acquired full control of investment bank AltaCorp Capital after the death of founder George Gosbee, then renamed the dealer ATB Capital Markets. Cormark brands itself as the Canada's leading mid-market investment bank, a position that means the dealer competes with both far larger domestic and foreign banks and smaller advisory firms that avoided running expensive trading desks, which face rising compliance costs. Cormark has offices in Toronto and Calgary. The firm's analysts cover 240 companies and the dealer has helped raise more than $100-billion for corporate clients in the past decade. In the first half of the year, Cormark led nine stock sales that raised a total of $270-million, which ranked 10th among domestic investment banks, according to data from LSEG Data & Analytics. Cormark accounted for 2.5 per cent of domestic underwriting done so far this year. Market leader RBC Capital Markets had a market leader 26-per-cent share of stock sales. The largest domestic independent investment bank, Canaccord Genuity Group Inc., held a 7-per-cent share, leading 20 equity offerings. Toronto-based Canaccord Genuity built its platform by both advising on deals and acquiring wealth management businesses and now has a $1.1-billion market capitalization. Cormark has steered clear of hiring financial advisors and fund managers. Cormark was co-founded in 1981 as Sprott Securities by financier and gold bug Eric Sprott. In 2000, Mr. Sprott departed to devote his attention to the money management company that still sports his name, Sprott Inc., which runs US$35-billion of funds investing in commodities such as gold, silver and uranium. In 2007, employees rebranded the investment dealer Cormark. Consolidation among Cormark's rivals included the sale of GMP Capital Inc. to St. Louis-based Stifel Financial Corp. in 2019, and Toronto-Dominion Bank's purchase of Newcrest Capital Inc. in 2000. Two investment banks with a client base similar to Cormark's - PI Financial Corp. and Echelon Wealth Partners Inc. - merged in 2023 and rebranded as Ventum Financial Corp. with files from James Bradshaw
Yahoo
23-06-2025
- Business
- Yahoo
MINAURUM GOLD INC. ANNOUNCES C$5.0M BEST EFFORTS PRIVATE PLACEMENT
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES/ VANCOUVER, BC, June 23, 2025 /CNW/ - Minaurum Gold Inc. ("Minaurum" or the "Company") (TSXV: MGG) (OTCQX: MMRGF) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. ("Cormark"), on behalf of itself and on behalf of a syndicate investment dealers, (collectively, the "Agents") pursuant to which Cormark has agreed to act as lead agent for and on behalf of Minaurum in connection with a "best efforts" private placement for aggregate gross proceeds of up to approximately C$5 million (the "Offering"). The Offering will consist of the issuance and sale of 20,000,000 units of the Company (the "Units") at a price of C$0.25 per Unit (the "Issue Price"). Each Unit will consist of one common share of the Company (each, a "Unit Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.37 on the date that is 24 months following the Closing Date (as defined below). The Company has granted the Agents an option, exercisable in whole or in part, at any time prior to Closing Date, to increase the size of the Offering to raise additional gross proceeds of up to C$750,000. The Company intends to use net proceeds from the Offering for exploration expenditures on the Company's Alamos silver project, property maintenance and permitting costs and for general working capital purposes. The Company is conducting a listed issuer financing pursuant to Section Part 5A.2 of National Instrument 45-106 Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). to purchasers in Canada (other than the province of Quebec). The Agents will also be entitled to offer the Units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions. The Units issued pursuant to the Listed Issuer Financing Exemption will not be subject to a hold period in Canada. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This news release does not constitute an offer to acquire securities in any jurisdiction. There is an offering document with respect to the portion of the Offering being conducted pursuant to the Listed Issuer Financing Exemption that can be accessed under the Company's profile at and the Company's website at Prospective investors of Units issued under the Listed Issuer Financing Exemption should read this offering document before making an investment decision. The Offering is expected to close on or about July 3, 2025, or on such other date as may be agreed to by the Company and the Agents, subject to compliance with applicable securities laws (the "Closing Date"). Notwithstanding the foregoing, the closing of any Units issued pursuant to the Listed Issuer Financing Exemption must occur no later than the 45th day following the date of this news release. The completion of the Offering is subject to customary conditions, including, but not limited to, the negotiation of an agency agreement between the parties with respect to the Offering and the receipt of all necessary approvals, inclusive of (if applicable) the approval of the TSX Venture Exchange. Follow us and stay updated: YouTube: @minaurumgoldLinkedIn: to our email list at Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTC; 78M Frankfurt) is an Americas-focused explorer concentrating on the high-grade 100% owned, production-permitted Alamos silver project in southern Sonora, Mexico and a portfolio of district-scale projects in Mexico. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value by acquiring and developing a pipeline of Tier-One precious-and base metal projects. ON BEHALF OF THE BOARD "Darrell A. Rader" Darrell A. RaderPresident and CEO The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the anticipated timing of closing of the Offering or at all; the anticipated terms of the Units and the Warrants; the anticipated use of the net proceeds of the Offering; and the anticipated receipt of all necessary approvals in respect of the Offering are forward-looking statements and contain forward-looking information. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum including, among other things, that the Offering will close on the anticipated timeline or at all; that the Units and the Warrants will have the anticipated terms; that the Company will use the net proceeds of the Offering as anticipated; and that the Company will receive all necessary approvals in respect of the Offering. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law. SOURCE Minaurum Gold Inc. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
16-06-2025
- Business
- Globe and Mail
NORTHERN SUPERIOR ANNOUNCES $5 MILLION PRIVATE PLACEMENT OF COMMON SHARES AND ACQUISITION OF STRATEGIC PROPERTIES IN THE CHIBOUGAMAU GOLD CAMP
TORONTO , /CNW/ - Northern Superior Resources Inc. (" Northern Superior" or the " Company") (TSXV: SUP) (OTCQX: NSUPF) (GR: D9M1) is pleased to announce it has entered into an agreement pursuant to which Cormark Securities Inc., as sole underwriter and bookrunner (the " Underwriter") in connection with a "bought deal" private placement, has agreed to purchase 6,500,000 common shares of the Company (the " Common Shares") at a price of $0.77 per Common Share, for gross proceeds of $5,005,000 (the " Offering"). Furthermore, the Company is pleased to announce that it has entered into a Binding Term Sheet (the " Term Sheet") dated June 16, 2025 , with TomaGold Corporation (" TomaGold") to acquire the Hazeur, Monster Lake East and Monster Lake West Properties (collectively, the " Chibougamau Properties"), expanding its total land position in the Chibougamau Gold Camp from 60,016 hectares to 68,522 hectares. The Company believes the Hazeur property could be the northwest extension of its flagship Philibert Project (Northern Superior: 75%, SOQUEM: 25%), located just 9 km from IAMGOLD Corporation's (" IAMGOLD") Nelligan project and 60 km southwest of Chibougamau, Quebec . Furthermore, the Monster Lake East and Monster Lake West properties are located on either side of IAMGOLD's Monster Lake property, and between the Company's Philibert and Chevrier projects (see Figure 1, 2 and 3 below). "This acquisition is a major step forward in unlocking the broader potential of the Chibougamau Gold Camp. Not only do these new properties host known gold mineralization and compelling exploration upside, but they also extend key geological structures directly linked to the Philibert deposit. Combined with recent drilling success and a growing resource base, Philibert is rapidly emerging as a cornerstone asset in a camp now coming into prominence on the global stage," said Simon Marcotte , President and Chief Executive Officer. "In addition to the Hazeur property, the acquisition of the Monster Lake East and West properties gives us control over highly prospective ground along the Fancamp trend, adjacent to our Chevrier Project and IAMGOLD's Monster Lake Project. We're very encouraged by the strategic potential these new land packages offer. This acquisition extends our control to over 15 kilometres along the Guercheville Fault Zone, where the Philibert deposit remains open in both directions. The Hazeur property shows strong evidence for the continuation of Philibert-style mineralization. Additionally, we now cover more than 30 kilometres along the highly prospective Fancamp Fault Zone and Monster Lake trends, where we plan to apply our evolving geological and structural models to identify and advance new discovery targets," added Adree DeLazzer , Vice President of Exploration. The Offering The net proceeds from the issue of the Common Shares will be used for working capital and general corporate purposes. The Offering is expected to close on or about June 25, 2025 , or such other date as the Company and the Underwriter may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional approval of the TSX Venture Exchange. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106"), the Common Shares will be offered for sale to purchasers resident in Canada and/or other jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the " Listed Issuer Financing Exemption"). The securities issued to Canadian resident subscribers in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the Offering and the use by the Company of the Listed Issuer Financing Exemption that can be accessed under the Company's profile on SEDAR+ at and at Prospective investors should read this offering document before making an investment decision. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. "United States" and "U.S. person" have the meaning ascribed to them in Regulation S under the 1933 Act. Acquisition of the Chibougamau Properties Exploration Potential and Historical Highlights The newly acquired properties have benefited from multiple exploration campaigns, including geophysical, geochemical, geological, and drilling programs. Northern Superior will initiate a comprehensive reinterpretation of all datasets, alongside regional surveys to develop new grassroots targets. Key mineralized zones and targets include: Northwest Extension of Philibert Deposit – Situated adjacent to the southeast corner of the Hazeur property. Historical work suggests that Philibert's mineralized zones extend northwest into Hazeur, with drilling returning anomalous values immediately adjacent to Northern Superior's current claims; Jonction Sud – A several-kilometre-long gold-bearing horizon; and Redess deposit – Several historic drill holes intercepted a mineralised horizon in a gabbro sill with similar characteristics to Philibert, suggesting a potential for more Philibert type mineralization 10km west of the current resource. The Chibougamau Gold Camp The Chibougamau Gold Camp is rapidly emerging as one of the world's most sought-after gold destinations with several complementary gold resources reaching viable scale. In recent years, these critical assets were divided amongst five different companies. Today, largely due to Northern Superior's acquisitions and corporate transactions, 1 ownership has been streamlined, with only IAMGOLD and Northern Superior holding these assets. The proximity of these deposits to each other makes them ideally suited to feed a single mill, and their consolidation enhances their viability, thereby increasing their value. Below is a table showing the resources of the camp having been formalized to date. Transaction Summary and Consideration Details Pursuant to the Term Sheet, Northern Superior has agreed to acquire from TomaGold a 100% interest in the Chibougamau Properties, subject to the terms and conditions of a definitive Asset Purchase Agreement to be entered into on or before June 30, 2025 . In consideration for the acquisition of the Chibougamau Properties, Northern Superior will make a cash payment of C$1 million to TomaGold on closing. In addition, TomaGold will retain a 2.0% net smelter returns (" NSR") royalty on all mineral production derived from the Chibougamau Properties. Northern Superior, or any successor or assign holding an interest in the properties, will have the right to repurchase 1.0% of the NSR at any time for a one-time cash payment of C$1 million . Finally, TomaGold is entitled to receive a payment of C$1 million upon a change of control of Northern Superior or a sale of the Chibougamau Properties to a third party. The transaction remains subject to customary conditions, including regulatory approvals, and due diligence investigations, as well as the negotiation and execution of the definitive Asset Purchase Agreement. Qualified Person ("QP") The technical content and drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101") and have been reviewed and approved by Ms. Melanie Pichon , Senior Geologist for Northern Superior. Ms. Pichon is a QP under the NI 43-101 and is not considered independent. Northern Superior adheres to strict protocols following the NI 43-101 best practices when conducting exploration works. Sampling and assay results are monitored with strict QAQC protocols. Drilled core is processed and assayed in Northern Superior's facilities in Chapais, Quebec . Core samples (half core) are transported to Agat Laboratory in Val d'Or. Samples are analyzed by fire assay with a 50-gram charge with an Atomic Absorption (AA) finish. Samples returning assay values over 10.0 grams are re-assayed with a gravimetric finish. QAQC consists of 4% of blank material, certified standards and duplicates inserted in the assay sequences by Northern Superior. A bout Northern Superior Resources Inc. Northern Superior is a gold exploration company focused on the Chibougamau Camp in Québec, Canada . The Company has consolidated the largest land package in the region, with total land holdings currently exceeding 62,000 hectares. The main properties include Philibert, Lac Surprise, Chevrier, and Croteau. Northern Superior also owns 56% of ONGold Resources Ltd. (TSXV: ONAU) (OTCQX: ONGRF) which is advancing promising exploration assets in Northern Ontario and Manitoba , including the district scale TPK Project and Monument Bay; Agnico Eagle Mines Limited owns 15% of ONGold Resources Ltd. The Philibert Project is located 9 km from IAMGOLD Corporation's Nelligan 2 Gold project. Philibert hosts a maiden 43-101 inferred resource of 48.5 Mt at 1.10 g/t Au for 1,708,800 ounces Au and an indicated resource of 7.9 Mt tonnes at 1.10 g/t Au for 278,900 ounces Au. 3 Northern Superior holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by SOQUEM, and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 15.7 Mt at 1.29 g/t Au for 652,000 ounces Au (underground and open pit) and an indicated mineral resource of 6.4 Mt at 1.26 g/t Au for 260,000 ounces Au. 4 Croteau hosts an inferred mineral resource of 11.6 Mt at 1.7 g/t Au for 640,000 ounces Au. 5 Lac Surprise hosts the Falcon Zone Discovery, interpreted to be the western strike extension of IAMGOLD Corporation's Nelligan Gold project. Northern Superior is a reporting issuer in British Columbia , Alberta , Ontario and Québec, and trades on the TSXV under the symbol SUP and the OTCQB Venture Market under the symbol NSUPF. For further information, please refer to the Company's website at or the Company's profile on SEDAR+ at 2" lAMGOLD Announces Significant Increase in Nelligan Ounces & Update of Global Mineral Reserves and Resources"; IAMGOLD reports increase in mineral reserves and resources at existing assets, with increase in resources at Gosselin; IAMGOLD Corporation News Release dated February 15, 2024, October 23, 2024, and February 20, 2025. Note that the technical and scientific information disclosed from neighboring properties does not apply to any other properties of the area. 3 Independent Technical Report MINERAL RESOURCES ESTIMATION OF THE PHILIBERT PROJECT Québec, Canada. September 22, 2023. Prepared in accordance with NI 43-101 by Goldminds Geoservice Inc. to Northern Superior Resources. Philibert hosts a maiden 43-101 inferred resource of 48.5 Mt at 1.10 g/t Au for 1,708,800 ounces Au and an indicated resource of 7.9 Mt tonnes at 1.10 g/t Au for 278,900 ounces Au Note that the technical and scientific information disclosed from neighboring properties does not apply to any other properties of the area. 4 NI 43-101 Technical Report Mineral Resource Estimation for the Chevrier Main Deposit, Chevrier Project Chibougamau, Quebec, Canada, October 20, 2021, Prepared in accordance with NI 43-101 by Lions Gate Geological Consulting Inc. IOS Services Géoscientifiques Inc. for Northern Superior. Chevrier hosts an inferred mineral resource of 15.7 Mt at 1.29 g/t Au for 652,000 ounces Au (underground and open pit) and an indicated mineral resource of 6.4 Mt at 1.26 g/t Au for 260,000 ounces Au Note that the technical and scientific information disclosed from neighboring properties does not apply to any other properties of the area. 5 Chalice Gold Mines Limited and Northern Superior Resources Inc. Technical Report on the Croteau Est Gold Project, Québec, September 2015, Prepared in accordance with NI 43-101 by Optiro Pty Ltd ("Optiro") to Chalice Gold Mines Limited and Northern Superior. Croteau hosts an inferred mineral resource of 11.6 Mt at 1.7 g/t Au for 640,000 ounces Au. Note that the technical and scientific information disclosed from neighboring properties does not apply to any other properties of the area. About SOQUEM SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery, and development of mining properties in Québec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Québec's mineral wealth, SOQUEM relies on innovation, research, and strategic minerals to be well-positioned for the future. Northern Superior Resources Inc. on Behalf of the Board of Directors Simon Marcotte , CFA, President and Chief Executive Officer Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the proposed transaction, the use of proceeds of the Offering, required approvals, and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward- looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Northern Superior, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of the parties to execute the proposed transaction, risks related to regulatory approvals of the Offering and the use of proceeds thereof. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
Globe and Mail
16-06-2025
- Business
- Globe and Mail
Goliath Resources Announces Closing of LIFE Offering Including the Full Exercise of Underwriters' Option for Gross Proceeds of $23,003,105
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO, June 16, 2025 (GLOBE NEWSWIRE) -- Further to its news releases dated May 29, 2025, June 2, 2025, and June 9, 2025, Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) (the ' Company ' or ' Goliath ') is pleased to announce that it has closed its 'bought deal' private placement of 7,256,500 common shares of the Company (the ' Charity Flow-Through Shares ') at a price of C$3.17 per Charity Flow-Through Share for aggregate gross proceeds of C$23,003,103, including the exercise in full of the over-allotment option granted to the Underwriters (as defined herein) (the ' Offering '). The Company's previously announced concurrent non-brokered private placement of up to 1,281,545 Charity Flow-Through Shares at a price of C$3.17 per Charity Flow-Through Share for aggregate gross proceeds of up to C$4,062,500 (the ' Concurrent Offering ') is expected to be completed shortly. The Charity Flow-Through Shares issued pursuant to the Concurrent Offering will be subject to a hold period expiring four months and one day from the date of issuance. The Offering was led by Stifel Nicolaus Canada Inc., in its capacity as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters that included CIBC World Markets Inc. and Cormark Securities Inc. (collectively, the ' Underwriters '). In consideration for services provided by the Underwriters in connection with the Offering, the Underwriters received compensation consisting of: (i) a cash commission equal to 6.0% of the gross proceeds raised under the Offering; and (ii) an aggregate 435,390 common share purchase warrants of the Company (the ' Broker Warrants '), representing 6% of the number of Charity Flow-Through Shares sold under the Offering. Each Broker Warrant is exercisable to acquire one common share of the Company at a price of C$2.12 per common share until June 16, 2027. For the avoidance of doubt, the cash commission was paid by the Company using existing cash on hand and not the gross proceeds of the Offering. As previously disclosed, the Company intends to use the gross proceeds of the Offering to advance the exploration of the Company's flagship Golddigger-Surebet Project. The proceeds from the sale of the Charity Flow-Through Shares will be used to incur exploration expenses that qualify as 'Canadian exploration expenses' as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the ' Tax Act '), 'flow-through critical mineral mining expenditures' as defined in subsection 127(9) of the Tax Act for purposes of the critical mineral exploration tax credit, and for individual subscribers resident in British Columbia, 'BC flow-through mining expenditures' as defined in subsection 4.721(1) of the Income Tax Act (British Columbia). Such expenses will be incurred on or before December 31, 2026, and renounced to the subscribers with an effective date no later than December 31, 2025. The 'BC mining flow-through share tax credit' allows individual residents of British Columbia who invest in flow-through shares to claim a provincial non-refundable tax credit in an amount equal to 20% of such subscriber's 'BC flow-through mining expenditures'. All Charity Flow-Through Shares were issued pursuant to the 'listed issuer financing' exemption from the prospectus requirement under Part 5A of National Instrument 45-106 - Prospectus Exemptions and Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption of the Canadian Securities Administrators (the ' LIFE Exemption ') and are not subject to a statutory hold period in accordance with applicable Canadian securities laws. The Broker Warrants were issued pursuant to an exemption from the prospectus requirement other than the LIFE Exemption and, accordingly, the Broker Warrants (and the shares issuable upon exercise thereof) are subject to a statutory hold period in accordance with applicable Canadian securities laws expiring on October 17, 2025. The Offering remains subject to the final approval of the TSX Venture Exchange (the ' Exchange '). This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ' 1933 Act ') or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. About Goliath Resources Limited Goliath is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath's key strategic cornerstone shareholders include Crescat Capital, McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Mr. Rob McEwen, a Global Commodity Group based in Singapore, Mr. Eric Sprott and Mr. Larry Childress. For more information please contact: Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887 roger@ This press release contains statements that constitute 'forward-looking information' (' forward-looking information ') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Offering (including the tax treatment of the Charity Flow-Through Shares), the use of proceeds of the Offering, the Concurrent Offering, and the ability to obtain the final approval of the Exchange. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company's business and results of operations; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
