Seriously??
What are these Luxor guys up to??
Here it is....bullet dodged.
Crocodile Gold Announces $30 Million Bought Private Placement
2/22/2012 3:31:53 PM
Crocodile Gold Announces $30 Million Bought Private Placement
TORONTO, ONTARIO--(Marketwire - Feb. 22, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Crocodile Gold Corp. (the "Company") (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) is pleased to announce that it has entered into an agreement with Dundee Securities Ltd. (the "Lead Underwriter") on behalf of a syndicate of Underwriters (the "Underwriters") under which the Underwriters have agreed to purchase, on a bought deal private placement basis, 60,000,000 common shares (the "Shares") at a price of $0.50 per Share for total gross proceeds of $30,000,000 (the "Offering"). The Underwriters have been granted the option (the "Option") to purchase up to an additional 15% of the Offering, exercisable in whole or in part at any time up to 48 hours before the closing of the Offering (the "Closing Date").
In connection with the Offering, the Company will pay the Underwriters a cash commission of 6.0% of the gross proceeds of the Offering, excluding those subscriptions obtained from the Presidents List, whereby the commission payable to the Underwriters will be 1.0%. The Company expects that at least 70% of the Offering will be subscriptions obtained from the Presidents List, which will include affiliates of Luxor Capital Group, LP.
The Closing Date of the Offering is scheduled on or about March 15, 2012. All securities issued will be subject to a statutory four month hold period. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
The net proceeds will be used for exploration and development of the Company's flagship gold assets in the Northern Territory of Australia and for general corporate purposes.
