December 15, 2009
PC Gold Inc. (TSX:PKL) completed a public offering of 5,124,000 units at a price of $0.70 per unit and 4,204,250 flow-through shares at a price of $0.80 per share for total gross proceeds of $6,950,200. Each unit consisted of one common share and one-half of one common share purchase warrant of PC Gold, with each whole warrant being exercisable to acquire one common share at a price of $0.80 for a period of 18 months. The offering was led by Canaccord Financial Ltd., with a syndicate comprising Raymond James Ltd. and Research Capital Corporation.
The net proceeds from the offering will be used for exploration of PC Gold’s Pickle Crow property, one of Canada’s best known past producing gold mines located in northwestern Ontario, and for general working capital purposes.
Wildeboer Dellelce LLP represented the issuer with a team that included Vaughn MacLellan and Al Wiens (corporate/securities) and Andrea Shreeram (tax).