On June 29, 2021, Monarch Mining Corporation closed a bought deal private placement of 8,319,500 units at a price of $0.80 per unit for aggregate gross proceeds of approximately $6.7 million, which includes a partial exercise of the underwriters’ over-allotment option. Each unit consists of one common share of Monarch and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share of Monarch at a price of $1.05 for a period of 24 months from the date of issuance thereof.
The offering was completed through Sprott Capital Partners LP and Stifel GMP, as co-lead underwriters and joint bookrunners.
Cassels acted for the underwriters.