On June 26, 2019, TerraX Minerals Inc. closed an upsized bought deal financing of 1,782,500 common shares at a price of $0.36 per share, 2,430,000 flow-through common shares at a price of $0.41 per share and 3,000,000 charity flow-through common shares at a price of $0.50 per share, for aggregate gross proceeds of approximately $3.1 million.
The offering was completed by a syndicate of underwriters led by PI Financial Corp. and included Beacon Securities Limited and GMP Securities L.P.
Cassels Brock & Blackwell LLP acted for TerraX with a deal team that included Jennifer Traub, Aimee O’Donnell and Sam Chapman (Securities and Mining ), and Chris Norton (Tax).
DuMoulin Black LLP acted for the underwriters with a deal team that included David Gunasekera and Rajdeep Malhi (Corporate).