Golden Predator Mining Corp.

February 17, 2017 08:04 ET

Golden Predator Mining Corp. Enters Into A Bought Deal Agreement for Gross Proceeds of C$15,000,550

TORONTO, ONTARIO--(Marketwired - Feb. 17, 2017) -


Golden Predator Mining Corp. (TSX VENTURE:GPY)(OTCQX:NTGSF) ("Golden Predator Mining Corp." or the "Company") has today entered into an agreement with Clarus Securities Inc., as lead underwriter, and GMP Securities L.P (collectively, the "Underwriters") under which the Underwriters have agreed to purchase, on a bought deal basis, or alternatively to arrange for the purchase of, as agent for substituted purchasers, a combination of 6,250,000 common shares (the "Common Shares") and 2,703,000 flow-through common shares (the "Flow-Through Shares") for aggregate gross proceeds of C$15,000,550 (the "Offering"). The Common Shares will be priced at $1.60 per Common Share and the Flow-Through Shares will be priced at $1.85 per Flow-Through Share. The Company has also granted to the Underwriters an over-allotment option to purchase an additional 937,500 Common Shares and an additional 405,450 Flow-Through Shares on the same terms as the Offering for a period ending 30 days following the closing of the Offering. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be C$17,250,633.

The Securities will be offered in the provinces of British Columbia, Alberta, and Ontario by short form prospectus, and in such other jurisdictions, including the United States and in those jurisdictions outside of Canada which are agreed to by the Company and the Underwriters, where the Common Shares can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

The Offering is expected to close on or about March 17, 2017, subject to customary conditions and all regulatory approvals including the approval of the TSX Venture Exchange.

In connection with the Offering, PowerOne Capital Markets Limited has been appointed as a special advisor to the Company.

The proceeds raised from the Offering will be used by the Company to finance qualified Canadian exploration expenditures as defined in the Income Tax Act (Canada). The proceeds raised from the Offering will be used by the Company for exploration and for general corporate purposes.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.


Golden Predator Mining Corp., a well-financed Canadian gold mineral exploration company is expanding surface discoveries, at its 3 Aces project in Canada's Yukon, through focused drilling. The 3 Aces property is a high-grade gold in quartz project with an exploration program underway that includes sampling, trenching, drilling and bulk sampling to define and interpret the project. The Company also holds the Brewery Creek project in Canada's Yukon.

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company has included in this news release certain non-IFRS performance measures, including, but not limited to, mine operating profit, mining and processing costs and cash costs. Cash costs per ounce reflect actual mine operating costs incurred during the fiscal period divided by the number of ounces produced. These measures are not defined under IFRS and therefore should not be considered in isolation or as an alternative to or more meaningful than, net income (loss) or cash flow from operating activities as determined in accordance with IFRS as an indicator of our financial performance or liquidity. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow.

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