November 20, 2009
Argonaut Gold Inc, a private corporation incorporated under the laws of Yukon, completed a private placement of 50,000,000 subscription receipts, at a price of $3.00 per subscription receipt, for aggregate gross proceeds of $150 million. The proceeds of the offering will be used primarily to acquire, by way of a take-over bid, all of the issued and outstanding common shares of Castle Gold Corp., a gold company engaged in exploration, mine development and production activities on gold-bearing properties in Mexico and Guatemala. GMP Securities L.P. acted as the agent in respect of the offering.
Wildeboer Dellelce LLP acted for the agent in connection with the offering with a team that included Derek Sigel, Al Wiens and Zahar Orlov (corporate/securities).