Reunion Gold Corporation (TSX-V:RGD, OTCQB:RGDFF) announced it has closed its $36.8 million financing to support an earlier discovery at the Oko West project in Guyana.
The financing package consisted of a bought deal worth $30.7 million and concurrent non-brokered private placement amounting to $6.1 million, according to a release from the Quebec-based company.
Aggregate gross proceeds amounted to $36,828,570.
READ: Reunion Gold finds 'significant' depth extension with ongoing drilling at Oko West in Guyana
The bought deal was underwritten by Sprott Capital Partners LP together with Paradigm Capital Inc on behalf of a syndicate of underwriters.
Concurrently with the bought deal, Reunion also closed its previously announced non-brokered private placement of units on the same terms as the units issued and sold under the bought deal.
Under the offering, Reunion issued 141,648,349 units at a price of $0.26 per unit, including 2,648,349 units issued pursuant to the exercise of the underwriters' over-allotment option and 23,500,000 units issued pursuant to the concurrent financing.
Each unit consists of one share and one-half of one warrant entitling the holder to purchase one share at an exercise price of $0.39 until July 8, 2024.
Additional proceeds will be used for general corporate and working capital purposes.
Reunion Gold Corporation (TSX-V:RGD, OTCQB:RGDFF) is a leading gold explorer in the Guiana Shield, South America, with a portfolio of projects in Guyana, Suriname and French Guiana.
To date, Reunion has outlined continuous gold mineralization at the Kairuni zone over 2,500 meters of strike and to a depth of 575 meters on the Oko West property.
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