TORONTO , Nov. 26, 2020 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“ Kirkland Lake Gold ” or the “ Company ”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced it has entered into an agreement with Stifel GMP and Clarus Securities Inc. as agents on behalf of Kirkland Lake Gold (the “Dealers”) to arrange for the sale of 18,500,000 units (the “Units”) at a price of $2.45 per Unit for gross proceeds to Kirkland Lake Gold of $45,325,000 (the “Sale Transaction). Each Unit consists of one (1) common share (a “Novo Share”) of Novo Resources Corp. (“Novo”) owned by Kirkland Lake Gold (a “Unit Share”) and one-half (0.5) of a common share purchase warrant of Kirkland Lake (each whole warrant a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one (1) additional Novo Share owned by Kirkland Lake Gold (a “Warrant Share”) at an exercise price of $2.80 for a term of 12 months from the date of issue. In Canada , the sale of the Unit Shares will be made through block trades and the sale of the Warrants will be made on a private placement basis. In the United States , the sale of both the Unit Shares and the Warrants will be made on a private placement basis.
I wonder why they are getting cashed up.
NML Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
(20min delay)