GoldMining Inc. (TSX: GOLD)
Announced the filing by Gold Royalty Corp. of a final prospectus for GRC’s initial public offering of 18,000,000 units of GRC (the “Units“) at an initial public offering price of US$5.00 per Unit.
This raises $90 million ahead of their IPO on the NYSE.
|GoldMining Inc.||TSX : GOLD|
|Market cap||C$305 m @ C2.07|
|Location||Various Latin American countries|
Gold Royalty Corp. Announces Closing Date for its US$90 Million Initial Public Offering and Debut on NYSE American
Vancouver, British Columbia – March 9, 2021 – GoldMining Inc. (TSX: GOLD; NYSE AMERICAN: GLDG) (“GoldMining“) and its subsidiary, Gold Royalty Corp. (NYSE American: GROY) (“GRC“) today announced the filing by GRC of a final prospectus for GRC’s initial public offering of 18,000,000 units of GRC (the “Units“) at an initial public offering price of US$5.00 per Unit.
Each Unit will be comprised of one common share and one-half of a warrant to purchase a common share of GRC. Each full warrant will entitle the holder thereof to acquire a common share at a price of US$7.50 per share for a period of three years after the issuance date.
The common shares and warrants of Gold Royalty Corp. are expected to begin trading on the NYSE American on March 9, 2021, under the symbols “GROY” and “GROY WS”, respectively. The offering is expected to close on March 11, 2021, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. and BMO Capital Markets are acting as the joint book-running managers and co-lead underwriters of a syndicate that includes CIBC Capital Markets, Haywood Securities, Raymond James Ltd., Roth Capital Partners, Scotiabank, Sprott Capital Partners L.P. and TD Securities Inc.
The gross proceeds to Gold Royalty Corp. from the offering are expected to be approximately US$90.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by GRC. In addition, GRC has granted the underwriters a 30-day option to purchase up to an additional 2,700,000 common shares and/or up to 1,350,000 warrants at the initial public offering price, less underwriting discounts and commissions.
Following completion of the offering, GoldMining will hold 20,000,000 common shares of GRC, or approximately 49.0% of its outstanding common shares (or approximately 46.0%, if the underwriters exercise their option to purchase additional securities in full and assuming no exercise of warrants).
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia and Peru.
About Gold Royalty Corp.
Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry.
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