Guyana Goldfields Inc. (GUY.TO) announced that it has closed its bought deal offering pursuant to which it has issued 29.42 million common shares , at a price of C$3.40 per Common Share for gross proceeds of approximately C$100 million.
The net proceeds of the Offering will be used to fund the development of the Aurora Gold Project, for exploration expenditures and for general corporate purposes.
The company said it has also granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 4.41 million Common Shares of the Company to cover over-allotments, if any, and for market stabilization purposes.
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