ENP Newswire -
Release date- 30052014 -
In addition, the underwriters will also have an over-allotment option exercisable at any time until 30 days following the closing of the offering to increase the size of this offering by up to an additional 3,012,100 Common Shares for additional gross proceeds of up to
In connection with the offering, the Company has received consent from the holders of its Series A Preferred Shares to issue the Common Shares at an Offering Price less than the conversion price of
As consideration for obtaining the consent, the Company has agreed to issue an aggregate of 3,434,474 Common Shares to the Series A Preferred Shareholders, which equals an aggregate amount of
The Company intends to use the net proceeds of the offering to fund the construction and working capital for the Pan project,
The prospectus supplement to the Company's short form base shelf prospectus dated
Copies of the Canadian Prospectus will be available at www.sedar.com and copies of the U.S. Prospectus will be available at www.sec.gov, and copies of both the Canadian Prospectus and the U.S. Prospectus may be obtained in
This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include, but are not limited to, statements about the Company's intended work plans and resource estimates, the closing of this offering of Common Shares, the participation of
Forward-looking statements are typically identified by words such as: 'may', 'should', 'plan', 'believe', 'predict', 'expect', 'anticipate', 'intend', 'estimate', postulate' and similar expressions or the negative of such expressions or which by their nature refer to future events. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements.
These risks, uncertainties and other factors include, without limitation, risks related to the timing and completion of the Company's intended work plans, risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources and reserves; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; changes in interest and currency exchanges rates; local and community impacts and issues; environmental costs and risks and other factors identified in the Company's
Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.
Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. For the reasons set forth above, investors should not attribute undue certainty to or place undue reliance on forward-looking statements.
Tel: (877) 475-3642
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