December 30, 2020 / JMN Wire / E2 Gold's Initial Public Offering ("IPO") Prospectus dated December 21, 2020, has been filed with and accepted by TSX Venture Exchange, and filed with and receipted on December 21, 2020, by the Ontario Securities Commission (as principal regulator) pursuant to the provisions of the Securities Act (Ontario), and has been filed under Multilateral Instrument 11-102 Passport System in British Columbia, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador. The common shares of the Company will be listed and admitted to trading on TSX Venture Exchange, on the effective date stated below.
Listing Date: At the close of business (5:01 p.m. EST) on Tuesday, December 29th, 2020.
Trading Halt: Trading will be halted at the opening on December 30th, 2020
Commence Date: The common shares will commence trading on TSX Venture Exchange at the opening on Monday, January 4, 2020, upon confirmation of closing.
The closing of the IPO is scheduled on December 30, 2020. It is expected that the gross proceeds of the closing will be $3,384,942 for a total of 5,421,100 "flow-through" units ("FT Units") at $0.22 per FT Unit and of 10,961,500 units ("Units") at $0.20 per Unit (inclusive of partial exercise of the Agents' Option, as defined below). A further notice will be issued upon receipt of closing confirmation.
Each Unit shall consist of one common share in the capital of the Corporation (a "Common Share") and one Common Share purchase warrant (a "Unit Warrant") and each FT Unit shall consist of one "flow-through" Common Share and one-half of one Common Share purchase warrant (each whole such Common Share purchase warrant, a "FT Warrant"). Each Unit Warrant shall be exercisable to acquire one additional Common Share (a "Warrant Share") at an exercise price of $0.24 until 5:00 p.m. (Toronto time) on the date which is 36 months following the closing of the Offering (the "Closing Date"), and each FT Warrant shall be exercisable to acquire one additional Warrant Share at an exercise price of $0.28 until 5:00 p.m. (Toronto time) on the date which is 24 months following the Closing Date, all pursuant to the terms and conditions of the warrant indentures dated effective December 30, 2020 between the Corporation and Marrelli Trust Company Ltd.., as warrant agent.
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Corporate Jurisdiction: |
Ontario |
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Capitalization: |
common shares with no par value of which |
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46,549,426 common shares are issued and outstanding |
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Escrowed Shares: |
15,766,428 |
common shares |
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Transfer Agent: |
Marrelli Trust Company Ltd. |
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Trading Symbol: |
ETU (new) |
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CUSIP Number: |
26932P102 |
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Agent(s): |
Beacons Securities Limited, INFOR Financial Inc., Red Cloud Securities Inc. and M Partners |
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Greenshoe Option: |
The Company has granted an agents' option (the "Agents' Option") to the Agents entitling them to purchase additional Units, FT Units, Common Shares, or flow through Common Shares comprising such Units and FT Units, in any combination to raise additional gross proceeds of up to $450,000 up to 30 days following the closing date. The Agents' Option will be partially exercised at closing to raise gross proceeds of $384,942. |
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Agent's/Underwriter's Warrants: |
1,146,782 non-transferable share purchase warrants (subject to increase pursuant to the balance of the Agents' Option). One warrant to purchase one Common Share at $0.20 per share up to 24 months from the closing date. |
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The Agents may also elect to receive up to 517,500 Units at a deemed price of $0.20 per Unit in partial compensation for their cash commission. |
For further information, please refer to the Company's Prospectus dated December 21, 2020.
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Company Contact: |
Eric Owens, President and Chief Executive Officer |
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Company Address: |
8 King Street East, Suite 1700, Toronto, |
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Ontario, M5C 1B5 |
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Company Phone Number: |
647 575-2888 |
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Company Email Address: |
This email address is being protected from spambots. You need JavaScript enabled to view it. |
