Ely Gold Royalties (TSX.V: ELY) recently announced that, due to investor demand in connection with its previously announced marketed private placement, the company and a syndicate of agents led by Clarus Securities Inc. and Mackie Research Capital Corp. (the “co-lead agents”) have agreed to increase the size of the previously announced offering to C$15,000,000 at a price of C$0.80 per unit. According to the update, the company will additionally grant the co-lead agents an over-allotment option to sell an additional 2,812,500 units, exercisable in whole or in any part, for a period of 30 days from and including the closing date of the offering. The aggregate gross proceeds, provided the over-allotment option is exercised in full, shall be C$17,250,000. Ely Gold intends to use the net proceeds principally for future royalty acquisitions and related project generative activities, and secondarily for general working capital purposes.
To view the full press release, visit http://nnw.fm/Cjq3L
About Ely Gold Royalties Inc.
Ely Gold Royalties Inc. is a Nevada focused gold royalty company. Its current portfolio includes royalties at some of Nevada’s largest gold mines, including Jerritt Canyon, Goldstrike and Marigold as well as the Fenelon property in Quebec, operated by Wallbridge Mining. Ely Gold’s royalty portfolio includes several advanced projects that are scheduled for production by 2023. The Company continues to actively seek opportunities to purchase producing or near-term producing royalties. Ely Gold is also generating development royalties through property sales on projects that are located at or near producing mines. Management believes that due to the Company’s ability to locate and purchase third-party royalties, its successful strategy of organically creating royalties and its gold focus, Ely Gold offers shareholders a low-risk leverage to gold prices and low-cost access to long-term gold royalties. For more information, visit www.ElyGoldInc.com.
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork.