On November 4, 2020, Kenorland Minerals Ltd. completed a brokered private placement of 10,000,000 subscription receipts at a price of $1.00 per subscription receipt for gross proceeds of $10 million.
The offering was conducted by a syndicate of agents led by Stifel GMP, and including Canaccord Genuity Corp, Haywood Securities Inc., Laurentian Bank Securities Inc. and Echelon Wealth Partners Inc.
The offering was completed in connection with a contemplated reverse take-over among Kenorland, Northway Resources Corp. and a subsidiary of Northway. The net proceeds will be used by the resulting issuer, Kenorland Minerals Ltd., to fund exploration activities across its portfolio of projects in Alaska and Canada and for general corporate purposes.
Cassels acted for the agents with a deal team that included Chad Accursi, James Lyle and Heesoo Kim (Securities and Mining).