representative work

Cassels Represents the Underwriters in Monarch Gold’s $13 Million Private Placement

09/17/2020

On September 17, 2020, Monarch Gold Corporation closed a bought deal private placement of 9,030,000 flow-through units (“Quebec FT Units”) at a price of $0.72 per Quebec FT Unit and 11,404,000 flow-through units (“National FT Units”) at a price of $0.57 per National FT Unit for gross proceeds of approximately $13 million, which includes the exercise of the underwriters over-allotment option in full.

Each Quebec FT Unit and National FT Unit consists of one common share and one-half of one common share purchase warrant of Monarch Gold. Each warrant entitles the holder thereof to purchase one common share of Monarch Gold at an exercise price of $0.60 for a period of 24 months following the closing of the offering.

The offering was co-led by Stifel GMP and Sprott Capital Partners LP.

Cassels acted for the underwriters with a deal team that included Chad Accursi, James Lyle and Heesoo Kim (Securities and Mining) and Andrea Gorys (Construction).