An offering worth about $44.6 million, involving the sale of three million units in Canada and Europe only, has been announced by Pegasus Gold (TSE).
The gold producer said each unit, to be priced at $15.50, will consist of one common share and one-third warrant. Each full warrant will be exercisable into one additional share of Pegasus at $17.50 during a 2-year period.
Pegasus said the proceeds will be used in part to fund development of the Zortman gold expansion project in Montana.
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