On October 23, 2020, Montage Gold Corp. closed its initial public offering of 27,272,728 common shares at a price of $1.10 per share for total gross proceeds of approximately $30 million. The common shares of Montage will commence trading on the TSX Venture Exchange under the symbol “MAU” on October 23, 2020.
Proceeds of the offering will be used to advance the drilling program at Montage’s Morondo Gold Project, to advance a preliminary economic assessment and a feasibility study at the Morondo Gold Project, to fund operating costs, and for general corporate and administrative purposes.
Cassels acted for Montage with a deal team that included Chad Accursi, Greg Hogan, James Lyle and Jasmine Qin (Securities and Mining) and Christopher Norton and Tera Li Parizeau (Tax).