A Locke Lord team led by James Channo (London) represented listed client SolGold Plc (LSE & TSX) in the completed placing of 121,359,680 ordinary shares with new and existing investors at a placing price of 21.5 pence per placing share. Concurrent with the placing, certain directors, related parties and institutions also subscribed for 22,719,255 new ordinary shares in the capital of SolGold. In addition, retail investors subscribed via the PrimaryBid platform for 4,813,527 new ordinary shares in the capital of SolGold. The placing (which was partly underwritten) and subscriptions in aggregate raised gross proceeds of approximately £30.9 million. The retail offer raised proceeds of approximately £1.0 million before expenses. The team also consisted of Nicholas Jennings (London) and Eugene McDermott (Providence).
Posted on June 11, 2020