representative work

Cassels Represents Troilus Gold in $22.1 Million Bought Deal Offerings and $20 Million NSR Buy Back

12/01/2020

On December 1, 2020, Troilus Gold Corp., a TSX listed exploration and early-development company, announced the completion of a bought deal public offering of 6,290,500 flow-through shares at a price of $1.92 per share for gross proceeds of approximately $12.1 million. In addition, Troilus closed a concurrent bought deal private placement of 9,100,000 common shares at a price of $1.10 per share for gross proceeds of approximately $10 million. The offerings were led by Cormark Securities Inc., on behalf of a syndicate of underwriters.

Concurrently with the initial announcement of the offerings, Troilus announced the entering into of an agreement pursuant to which it has repurchased and cancelled the sliding 2.5% net smelter royalty (“NSR”) from First Quantum Minerals Ltd. attached to certain mineral claims and a mining lease associated with the Troilus mine located in Quebec, for a cash consideration of $20 million.

Cassels represented Troilus on these transactions, with a team comprised of André Boivin, Kyle Simpson and Jasmine Qin (Securities and Mining) in respect of the offerings, and Cathy Mercer (Mining) represented Troilus in respect of the NSR buy-back.