representative work

Sun Metals Completes $6.15 Million Bought Deal Financing

10/30/2019

On October 30, 2019, Sun Metals Corp. completed a bought deal financing of an aggregate of 22,500,000 flow-through shares, for total gross proceeds of $6.15 million.

The financing was completed in two tranches: tranche 1 consisting of 9,880,000 flow-through shares at a price of $0.25 per flow-through share for gross proceeds of approximately $2.47 million; and tranche 2 consisting of 4,520,000 flow-through shares at a price of $0.25 per flow-through share and 8,100,000 premium flow-through shares at a price of $0.315 per premium flow-through share for gross proceeds of approximately $3.68 million.

The offering was led by Sprott Capital Partners LP, on behalf of a syndicate of underwriters including Cormark Securities Inc., Haywood Securities Inc. and PI Financial Corp.

Cassels acted for Sun Metals with a deal team that included Jeff Durno and Sam Chapman (Securities and Mining), Chris Norton (Tax), and Lance Williams (Financial Services).