TORONTO, Jan. 20, 2023 /CNW/ – Paycore Minerals Inc. (TSXV: CORE) (“Paycore” or the “Company“) is pleased to announce that due to strong investor demand, it has entered into an amending agreement with PI Financial Corp. and CIBC Capital Markets (collectively, the “Lead Underwriters“), as lead underwriters and co-bookrunners, on their own behalf and, if applicable, on behalf of a syndicate of underwriters (together with the Lead Underwriters, the “Underwriters“) to increase the size of the previously announced bought deal financing to an aggregate of 9,820,000 common shares of the Company (the “Shares”) at a price of $1.63 per Share (the “Offering Price”) for gross proceeds of $16,006,600 (the “Offering”).
In addition, the Company has granted the Underwriter an option (the “Over-Allotment Option”), exercisable in whole or in part, for a period of 30 days following the Closing Date, to purchase up to an additional 15% of the Shares sold pursuant to the Offering, on the same terms as the Offering, to cover over-allotments and for market stabilization purposes.
The net proceeds from the Offering are expected to be used by the Company to fund ongoing work, development and permitting activities at its FAD Property in Nevada and for working capital and general corporate purposes.
Closing of the Offering is expected to take place on or about February 9, 2023…
