On March 4, 2021, Monarch Mining Corporation closed a bought deal private placement of 863,143 flow-through common shares (“Quebec FT Shares”) at a price of $1.75 per Quebec FT Share and 2,587,841 flow-through common shares (“FT Shares”) at a price of $1.38 per FT Share for aggregate gross proceeds of approximately $5.1 million, which includes a partial exercise of the underwriters’ over-allotment option.
The offering was conducted by Sprott Capital Partners LP and Stifel GMP, as co-lead underwriters and joint bookrunners.
Cassels acted for the underwriters.