Gold Standard Ventures Corp. Announces C$30 Million Bought Deal Financing
February 09 2021 - 04:29PM
Gold Standard Ventures Corp. (TSX:GSV, NYSE AMERICAN:GSV) (“Gold
Standard” or the “Company”) has announced today that it has entered
into an agreement with a syndicate of underwriters led by BMO
Capital Markets, under which the underwriters have agreed to buy on
bought deal basis 34,100,000 common shares (the “Common
Shares”) of the Company, at a price of C$0.88 per Common Share for
gross proceeds of approximately C$30 million (the “Offering”). The
Company has granted the Underwriters an option, exercisable at the
offering price for a period of 30 days following the closing of the
Offering, to purchase up to an additional 15% of the Offering to
cover over-allotments, if any, and for market stabilization
purposes. The offering is expected to close on or about February
17, 2021 and is subject to Gold Standard receiving all necessary
regulatory approvals, including the approval of the TSX and the
NYSE American.
The net proceeds from the Offering will be used
for development, permitting, and exploration activities at South
Railroad Project and for general corporate purposes.
A prospectus supplement (the “Prospectus
Supplement”) to the Company’s short form base shelf prospectus
dated September 28, 2020 (the “Base Shelf Prospectus”) will be
filed with the securities commissions or securities regulatory
authorities in each of the provinces and territories of Canada,
excluding Quebec, 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. The Prospectus
Supplement, the Base Shelf Prospectus and the Registration
Statement contain important detailed information about the Company
and the proposed Offering. Prospective investors should read the
Prospectus Supplement, the Base Shelf Prospectus and the
Registration Statement and the documents incorporated therein for
more information about the Company and this Offering before making
an investment decision.
Copies of the Prospectus Supplement, following
filing thereof, and the Base Shelf Prospectus will be 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. Copies of the Prospectus Supplement, following filing
thereof, the Base Shelf Prospectus and the Registration Statement
may also be obtained from BMO Capital Markets by contacting BMO
Capital Markets, Brampton Distribution Centre C/O The Data Group of
Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by
telephone at (905) 791-3151 Ext 431 or by email at
torbramwarehouse@datagroup.ca or from BMO Capital Markets Corp.,
Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New
York, NY 10036 (Attn: Equity Syndicate), or by telephone at (800)
414-3627 or by email at bmoprospectus@bmo.com.
This press release is for information purposes
only and shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
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 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
Offering, including the expected closing date of the Offering, the
receipt of regulatory approvals in respect of the Offering and 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 successfully close the
Offering on the timeline currently contemplated and 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 Offering may not close on
the timelines currently contemplated, or at all, that the Company
may not use the proceeds from the Offering as currently anticipated
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
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