Adventus Mining closes $14.26 million bought deal private placement of common shares

09 August 2019

On August 9, 2019, Adventus Mining Corporation (TSXV: ADZN) (OTCQX: ADVZF) closed a brokered private placement of common shares raising a total of approximately $14.26 million.

The first tranche which closed on August 7, 2019, raised total gross proceeds of approximately $11.5 million and involved a syndicate of underwriters led by Raymond James Ltd., and including Haywood Securities Inc. BMO Nesbitt Burns Inc., TD Securities Inc., Laurentian Bank Securities Inc., Beacon Securities Limited and Red Cloud Klondike Strike Inc. In the second tranche, Adventus issued to Greenstone Resources II L.P., an existing strategic investor of the company, additional common shares for gross proceeds of approximately $2.76 million.

Toronto-based Adventus is a well-financed exploration and project development company, focused in Ecuador. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Resource Capital Funds, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador.

Gowling WLG advised Adventus with respect to this transaction with a team that included Denis Silva, Tara Amiri and Jill Dunn, assisted by student-at-law James Stewart and paralegal Toni Vodola.

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.