On January 20, 2023, Augusta Gold Corp. completed a bought deal offering of 6,725,147 units at a price of $1.71 per unit for gross proceeds of approximately $11.5 million, including the full exercise of the over-allotment option in the amount of $1.5 million. The units were issued via a “northbound” MJDS prospectus pursuant to National Instrument 71-101 – The Multijurisdictional Disclosure System.
Each unit was comprised of one share of the company’s common stock and one-half of one common stock purchase warrant, each exercisable to acquire one share of the company’s common stock at a price of $2.30 until January 20, 2026.
The offering was completed through a syndicate of underwriters led by Eight Capital, and including National Bank Financial and TD Securities Inc.
Cassels acted for Augusta Gold.