The best thing; today's news confirms every suspicion. Goodbye forever Bitgold (XAU.v), we have no need to take you seriously any longer.
BitGold Inc. (TSX VENTURE:XAU) ("BitGold" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. and including Clarus Securities Inc., Canaccord Genuity Inc. and Dundee Securities Ltd. (collectively, the "Underwriters"), which has agreed to purchase, on a bought deal basis, 5,000,000 common shares (the "Shares") of the Company at a price of C$3.65 per Share, for aggregate gross proceeds of C$18,250,000 (the "Offering").
The Underwriters will also have the option exercisable, in whole or in part, to purchase up to an additional 750,000 Common Shares to cover the Underwriters' over-allotment position. In the event that the option is exercised in its entirety, the aggregate gross process of the Offering will be C$20,987,500
The net proceeds of the Offering are expected (continues here)