JDL Gold Corp.’s $20 Million Bought Deal Financing

Cassels Brock represented the underwriters on the transaction

JDL Gold Corp. completed its bought deal private placement of 10,000,000 subscription receipts at a price of $2.00 per subscription receipt for gross proceeds of $20 million (upsized from the originally announced $15 million). Upon satisfaction of certain escrow release conditions, each subscription receipt will be automatically converted into one common share of and one common share purchase warrant of JDL. Each warrant is exercisable at a price of $3.00 per common share until October 6, 2021. The private placement was completed in connection with the previously announced business combination involving JDL and Luna Gold Corp.

The offering was completed by a syndicate of underwriters co-led by Haywood Securities Inc. and National Bank Financial Inc. and including, Cormark Securities Inc., Clarus Securities Inc., Eight Capital, Paradigm Capital Inc. and Raymond James Ltd.

Cassels Brock represented the underwriters with a team composed of Eva Bellissimo (Picture), Jamie Litchen, Matt Gold and James Lyle (Securities and Mining).

Involved fees earner: Eva Bellissimo – Cassels Brock & Blackwell LLP; Jamie Litchen – Cassels Brock & Blackwell LLP; Matt Gold – Cassels Brock & Blackwell LLP; James Lyle – Cassels Brock & Blackwell LLP;

Law Firms: Cassels Brock & Blackwell LLP;

Clients: Raymond James Financial, Inc.; Clarus Securities Inc.; National Bank Financial Inc.; Haywood Securities Inc.; Cormark Securities Inc.; Paradigm Capital Inc.; Eight Capital Inc.;

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Author: Ambrogio Visconti