On October 14, 2020, Argonaut Gold Inc. (TSX: AR) announced that it had closed its previously announced "bought deal" private placement of common shares in the capital of the company that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) for aggregate gross proceeds of $11,500,149.50, including full exercise of the underwriters' option. The flow-through shares were offered and sold through a syndicate of underwriters led by Canaccord Genuity Corp.
Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production. Its primary assets are located in Mexico and the US, advanced exploration projects in Canada and Mexico, with several exploration stage projects also in North America.
Gowling WLG advised the underwriters in this transaction with a team that included Cyndi Laval, Tara Amiri, Raymond Ong and Ethan Chang (corporate/securities), and Brent Kerr and Anita Yuk (tax), assisted by student-at-law James Stewart.
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