Vox Royalty Corp. (CVE:VOX) said it has closed its previously announced overnight marketed public offering for gross proceeds of approximately $16.85 million.
The net proceeds of the offering will be used to support continued growth of the company's portfolio of assets and for general corporate purposes.
Under the offering, Vox issued 5,615,766 units of the company at a price of C$3.00 per unit, which included the partial exercise of an over-allotment option to acquire an additional 615,766 units.
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Each unit issued in the offering consisted of one ordinary share of the company and one half of one ordinary share purchase warrant. Each warrant will be exercisable to acquire one share of the company for a period of 36 months following the closing date of the offering at an exercise price of C$4.50 per warrant share, subject to adjustment in certain events.
The offering was completed through a syndicate of underwriters co-led by BMO Capital Markets and Cantor Fitzgerald Canada, and including Stifel Nicolaus Canada. and Red Cloud Securities. In consideration for services provided in connection with the offering, the underwriters received a cash commission equal to 6.0% of the gross proceeds of the offering. T
The TSX Venture Exchange has conditionally approved the listing of the shares underlying the units and the shares underlying the warrants. The offering was made under a prospectus supplement dated March 22, 2021, and a base shelf prospectus dated October 2, 2020, filed in each of the provinces of Canada other than Quebec.
Vox is a high growth precious metals royalty and streaming company with a portfolio of over 40 royalties and streams spanning nine jurisdictions. The company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed it to become the fastest-growing company in the royalty sector.
Since the beginning of 2019, Vox has announced over 15 separate transactions to acquire over 40 royalties.
Contact the author at jon.hopkins@proactiveinvestors.com