Sabina Gold & Silver announces increase to previously announced C$20.0 million bought deal financing to C$22.0 million
12 December 2018
Sabina Gold & Silver Corp. announced due to strong demand, it has increased the size of the previously announced offering to 18,340,000 common shares, at a price of C$1.20 per Common Share for gross proceeds of approximately C$22.0 million. The Offering is led by BMO Capital Markets and RBC Capital Markets. The Company has granted the Underwriters an over-allotment option, exercisable at the Offering Price for a period of 30 days following the closing of the Offering, to purchase up to an additional 2,751,000 Common Shares (representing 15% of the Common Shares offered pursuant to the Offering) to cover over-allotments, if any, or for market stabilization purposes. The Offering is expected to close on or about December 21, 2018 and is subject to Sabina receiving all necessary regulatory approvals. The net proceeds of the Offering (and any additional proceeds raised from the exercise of the aforesaid participation rights) will be used to advance development of the company’s Back River Gold Project and for working capital and general corporate purposes.