Gold explorer Golden Predator (TSX:GPD) said Monday it plans to raise more than $15 million through a bought deal financing.
The company has agreed, with Dundee Securities and Casimir Capital, to sell 6.67 million units at a price of $0.75 per unit, as well as roughly 11.1 million flow-through common shares at $0.90 per share.
The unit will consist of one common share, and one half of one transferable warrant, with each whole warrant exercisable for the purchase of one common share at a price of $1.10 per share, for a period of 18 months following closing.
The company said the underwriters also have the option to purchase up to an additional 15% of the flow through shares and units at any time up to 48 hours prior to the closing date. Commission and warrants will also be issued to the underwriters, Golden Predator added.
Proceeds from the financing will be used for exploration of the company's Canadian projects, as well as for general corporate purposes.
Golden Predator has three advanced gold projects and a pipeline of six prospects, as well as an exploration landholding comprising approximately 1,800 km2 in the Yukon.