Gold Standard Ventures Announces Full Exercise of Over-Allotment Option and Closing of C$34.5 Million Bought Deal Financing
February 17 2021 - 8:45AM
Gold Standard Ventures Corp. (NYSE AMERICAN: GSV) (TSX: GSV) (“Gold
Standard” or the “Company”) is pleased to announce that it has
closed its previously announced bought deal financing with a
syndicate of underwriters led by BMO Capital Markets and including
Canaccord Genuity Corp., National Bank Financial Inc., PI Financial
Corp., Haywood Securities Inc., Paradigm Capital Inc., Stifel
Nicolaus Canada Inc., and TD Securities Inc. (collectively the
“Underwriters”). A total of 39,215,000 common shares of the Company
(“Shares”), which includes the full exercise of the over-allotment
option by the Underwriters, were sold at a price of C$0.88 per
Share for aggregate gross proceeds to the Company of C$34,509,200
(the “Offering”).
The net proceeds from the Offering will be used
for development, permitting, and exploration activities at South
Railroad Project and for general corporate purposes.
“We wish to thank our existing shareholders for
their continued support in our financing, as well as welcome our
new shareholders to Gold Standard,” said Jason Attew, President and
CEO. “With the net proceeds from the Offering, we expect to be
financed through the completion of our Feasibility Study and be
able to continue enhancing the South Railroad Project.”
The Offering was made pursuant to a prospectus
supplement dated February 11, 2021 (the “Prospectus Supplement”) to
the Company’s short form base shelf prospectus dated September 28,
2020 (the “Base Shelf Prospectus”) filed in all the provinces and
territories of Canada, and with the U.S. Securities and Exchange
Commission (the “SEC”) as part of the Company’s registration
statement on Form F-10 (the “Registration Statement”) under the
U.S./Canada Multijurisdictional Disclosure System. Copies of the
Prospectus Supplement and the Base Shelf Prospectus are available
on SEDAR at www.sedar.com, and copies of the Prospectus Supplement
and the Registration Statement will be available on EDGAR at
www.sec.gov.
About Gold Standard
Gold Standard is developing the South Railroad
Project, an open pit, heap leach gold project located in Elko
County, Nevada. The project is part of a +21,000 hectare land
package on the Carlin Trend, and is 100% owned or controlled by
Gold Standard. The goal of the Company is to become the low-cost
junior producer of choice in Nevada, one of the premier mining
jurisdictions in the world.
Cautionary Note Regarding
Forward-Looking Statements
This news release contains forward-looking
statements, which relate to future events or future performance.
All statements, other than statements of historical fact, included
herein including, without limitation, statements about the expected
use of proceeds from the Offering. Such forward-looking statements
reflect management’s current beliefs and are based on assumptions
made by and information currently available to the Company,
including that the Company will use the proceeds from the Offering
as currently anticipated. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. These risks
uncertainties and other factors include, among others: that the
Company may not use the proceeds from the Offering as currently
expected; that the Company may not be successful in developing
and/or operating the South Railroad Project; that the South
Railroad Project may never be placed into production; that the
Company may not successfully commence or complete the EIS process
on the timelines expected, or at all; the results from our
exploration programs, global financial conditions and volatility of
capital markets, uncertainty regarding the availability of
additional capital, fluctuations in commodity prices; title
matters; and the additional risks identified in our filings with
Canadian securities regulators on SEDAR in Canada (available at
www.sedar.com) and with the SEC on EDGAR (available at
www.sec.gov/edgar.shtml). These forward-looking statements are made
as of the date hereof and, except as required under applicable
securities legislation, the Company does not assume any obligation
to update or revise them to reflect new events or
circumstances.
For further information
contact:Michael McDonaldVice President, Corporate
Development & Investor RelationsPhone: 1-604-687-2766E-Mail:
info@goldstandardv.com
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From Apr 2023 to Apr 2024