On March 25, 2021, Empress Royalty Corp. completed a bought deal public offering of 31,505,000 units at a price of $0.50 per unit for gross proceeds of approximately $15.75 million, which includes the partial exercise of the underwriters’ over-allotment option. Each unit consists of one common share and one-half of one common share purchase warrant of Empress. Each whole warrant entitles the holder to purchase one common share at a price of $0.75 until March 25, 2023.
The offering was conducted by Red Cloud Securities Inc. and Canaccord Genuity Corp., as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters including Mackie Research Capital Corporation.
Cassels acted for the underwriters.