Marathon Gold Announces C$10 Million Equity Financing
16 11월 2011 - 10:10PM
PR Newswire (Canada)
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES TORONTO, Nov. 16, 2011 /CNW/ -
Marathon Gold Corporation ("Marathon" or the "Company") today
reported that in connection with its previously announced public
offering on November 14, 2011 (the "Offering"), it has entered into
an underwriting agreement with a syndicate of underwriters co-led
by Canaccord Genuity Corp. and Haywood Securities Inc., and
including Fraser Mackenzie Limited (collectively the
"Underwriters") to sell 3,928,000 units (the "Units") of the
Company at a price of C$1.40 per Unit (the "Unit Offering") and
2,728,000 flow-through common shares (the "FT Shares") of the
Company at a price of C$1.65 per FT Share (the "FT Offering") for
aggregate gross proceeds of C$10,000,400. Each Unit will
consist of one common share of the Company and one-half of one
common share purchase warrant. Each warrant will entitle the
holder to purchase one common share of the Company at an exercise
price of C$1.80 per common share for a period of 30 months
following the date of closing of the Offering. The Company has also
granted the Underwriters an over-allotment option to purchase up to
that number of additional Units (the "Over-Allotment Units", and
together with the Common Shares and FT Shares, the "Offered
Securities") equal to 15% of the Units sold pursuant to the
Offering, exercisable at any time up to 30 days after and including
the closing of the Offering at a price equal to the offering price
of the Units of C$1.40 per Unit. The Company intends to use the net
proceeds from the Offering for ongoing exploration programs on the
Company's Newfoundland and Idaho gold projects, including a planned
40,000 m drill program at the Valentine Lake Gold Project and a
25,000 m drill program at the Golden Chest Project, set to commence
in 2012, and for general corporate and working capital purposes.
The Offering is being made pursuant to a short form prospectus
filed in each of the provinces of Canada other than Quebec. The
Offered Securities are not registered under the U.S. Securities Act
of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements. This press release does not constitute
an offer of securities for sale in the United States. The
securities being offered have not been, nor will be, registered
under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States absent U.S.
registration or an applicable exemption from U.S. registration
requirements. Any public offering of the securities to be made in
the United States will be made by means of a prospectus that may be
obtained from the Company and that will contain detailed
information about the Company and management, as well as financial
statements. About Marathon Gold Corporation Marathon Gold
Corporation is a North American gold resource development company,
with projects located in the mining friendly province of
Newfoundland and Labrador, and a project in the prolific Coeur
d'Alene Mining District of Idaho. Marathon has a project
pipeline consisting of early stage exploration to advanced resource
development projects. Marathon is continually evaluating new gold
resource development projects of merit that are located within the
Americas. Marathon's focused and low-cost approach to
exploration and resource development has an established record of
delivering rapid growth. For more information visit:
www.marathon-gold.com CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION Except for statements of historical
fact relating to Marathon Gold Corporation, certain information
contained herein constitutes "forward-looking statements".
Forward-looking statements include statements that are predictive
in nature, depend upon or refer to future events or conditions, or
include words such as "expects", "anticipates", "plans",
"believes", "considers", "intends", "targets", or negative versions
thereof and other similar expressions, or future or conditional
verbs such as "may", "will", "should", "would" and "could". We
provide forward-looking statements for the purpose of conveying
information about our current expectations and plans relating to
the future and readers are cautioned that such statements may not
be appropriate for other purposes. By its nature, this information
is subject to inherent risks and uncertainties that may be general
or specific and which give rise to the possibility that
expectations, forecasts, predictions, projections or conclusions
will not prove to be accurate, that assumptions may not be correct
and that objectives, strategic goals and priorities will not be
achieved. These risks and uncertainties include but are not limited
to those identified and reported in Marathon Gold Corporation's
public filings, which may be accessed at www.sedar.com. Other
than as specifically required by law, we undertake no obligation to
update any forward-looking statement to reflect events or
circumstances after the date on which such statement is made, or to
reflect the occurrence of unanticipated events, whether as a result
of new information, future events or results otherwise. Marathon
Gold Corporation CONTACT: Marathon Gold CorporationJennie
GuayInvestor Relations ManagerTel: 1-416-987-0714Email:
jguay@marathon-gold.com
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