Nighthawk Increases Bought Deal Financing to $23.5 Million
9 June 2021
TORONTO, June 9, 2021 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to announce that due to the high level of interest, it has entered into a revised agreement with Sprott Capital Partners, on behalf of a syndicate of underwriters, to increase the size of the previously announced bought deal financing (the "Offering") to now raise aggregate proceeds of $23.5 million. The underwriters have agreed to purchase, or arrange for substituted purchasers to purchase, 7,000,000 units ("Units") and 10,265,000 flow-through units (the "FT Units"). The other terms of the Offering remain unchanged from the Company's news release dated June 8, 2021.
In addition, the Company has also granted the underwriters an over-allotment option to purchase up to a further 15% of the number of Units and/or FT Units sold. This over-allotment option is exercisable in whole or in part, at the sole discretion of the underwriters, at any time until and including 30 days following the closing date of the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Richard Roy P.Geo., V.P. Exploration of Nighthawk, who is the "Qualified Person" as defined by NI 43-101 for this project, has reviewed and approved of the scientific and technical disclosure contained in this news release.
Nighthawk is a Canadian-based gold exploration company with 100% ownership of a district-scale land position within the Indin Lake Greenstone Belt, located approximately 200km north of Yellowknife, Northwest Territories, Canada. Within this largely underexplored Archean gold camp, the Company has identified a number of high-priority targets all centered around a growing deposit. These targets lie within large regional deformation zones that contain gold mineralization which warrant additional exploration and follow-up. The main goals and objectives over the next 12-24 months will be to carry out exploration to support mineral resource expansion opportunities as well as to foster new, near-surface discoveries that support the global mineral resource base.
The Company has an experienced and dedicated team with a track record of successfully advancing projects and is well funded and supported to advance its near-term goals and objectives.