Newstrike Resources (TSXV:HIP) announced the filing of its final short form prospectus regarding a C$45 million bought deal financing.

As quoted in the press release:


Under the terms of the Offering, the Underwriters have agreed to purchase 60,000,000 units (“Units”) from the treasury of the Company, at a price of $0.75 per Unit and offer them to the public by way of short form prospectus for total gross proceeds of approximately $45 million. Each Unit will consist of one common share (each a “Common Share”) of the Company and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”) of the Company.  Each Warrant will entitle the holder thereof to purchase one Common Share at a price equal to $1.00 for a period of 60 months following the closing of the Offering.

The net proceeds of the Offering shall be used for strategic growth initiatives (both investments and acquisitions) as well as general corporate purposes.

The Company also announces that it has recently refiled the following: condensed consolidated interim financial statements for the three-month period ended March 31, 2017; condensed consolidated interim financial statements and related management’s discussion and analysis for the three-month period ended March 31, 2018 (collectively the “Interim Financial Reports”); and, annual management’s discussion and analysis for the year ended December 31, 2017 filed on April 26, 2018 (the “MD&A”).

Click here to read the full press release.

Source: globenewswire.com

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