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
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