Perpetua Resources Corp. announced the pricing of its previously announced underwritten marketed public offering in the United States and Canada of 9,523,810 common shares at a price to the public of US$5.25 per share (the “Offering”). All of the shares to be sold in the Offering are to be sold by Perpetua Resources.
In addition, Perpetua Resources has granted the underwriters a 30-day over-allotment option to purchase up to an additional 1,428,572 common shares representing up to 15% of the number of common shares to be sold pursuant to the Offering, to cover the underwriters’ over-allocation position, if any, and for market stabilization purposes. The gross proceeds to Perpetua Resources from the Offering, before deducting the underwriting commissions and other Offering expenses, will be approximately US$50 million.
The Company expects to use the net proceeds of the Offering to continue permitting, early restoration and field operations, engineering and design at the Stibnite Gold Project and for general corporate purposes.
B. Riley Securities, Inc. and Cantor Fitzgerald Canada Corporation are acting as joint book-running managers for the Offering.
In connection with the Offering, Perpetua Resources has filed a preliminary prospectus supplement dated August 12, 2021 (the “Preliminary Prospectus Supplement”) to its base shelf prospectus dated April 1, 2021 (the “Base Shelf Prospectus”) to offer securities in each of the provinces of Canada, except Quebec. The Base Shelf Prospectus was filed with, and declared effective by, the U.S. Securities and Exchange Commission (“SEC”) as part of a registration statement on Form F-10 under the U.S.-Canada multijurisdictional disclosure system (MJDS). A U.S. version of the Preliminary Prospectus Supplement has also been filed with the SEC (the “U.S. Preliminary Prospectus Supplement”). The Offering is being made in Canada only by means of the Base Shelf Prospectus and Preliminary Prospectus Supplement and in the United States only by means of the registration statement on Form F-10. Such documents contain important information about the Offering. Prospective investors should read the Base Shelf Prospectus and the Preliminary Prospectus Supplement as well as the Base Shelf Prospectus and U.S. Preliminary Prospectus Supplement before making an investment decision.
The Offering is expected to close on or about August 17, 2021. Closing of the Offering will be subject to a number of customary conditions, including the listing of the Common Shares issued as part of the Offering on Nasdaq and the TSX, and the receipt of all necessary approvals, including any required Nasdaq and TSX approvals. There can be no assurance as to whether or when the Offering will be completed.
Copies of the Base Shelf Prospectus and the Preliminary Prospectus Supplement can be found on SEDAR at www.sedar.com, and a copy of the Registration Statement and the U.S. Preliminary Prospectus Supplement can be found on EDGAR at www.sec.gov. Copies of such documents may also be obtained by contacting the Company or any of the following sources: B. Riley Securities, Inc. at (703) 312-9580 or by emailing firstname.lastname@example.org, Cantor Fitzgerald Canada Corporation in Canada, by emailing email@example.com, or Cantor Fitzgerald & Co. in the U.S., by emailing firstname.lastname@example.org.