On July 8, 2019, Terraco Gold Corp. (TSXV: TEN) announced that it had closed a previously announced non-brokered private placement of common shares of the company subscribed for by funds managed by Wexford Capital LP, for total gross proceeds of $4,717,183.
Following completion of the private placement, the Wexford Funds hold approximately 19.9% of the outstanding common shares of Terraco on a non-diluted basis. Additional common shares may be issued under the private placement to a third party should it exercise its pre-emptive right to maintain its pro-rata interest in Terraco.
Terraco is a gold royalty company with a royalty portfolio of up to 3% NSR on the multi-million ounce Spring Valley Gold Project located in Pershing County, Nevada.
Cyndi Laval of Gowling WLG advised Terraco with respect to this private placement.
Read the original article on GowlingWLG.com
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.