Gladiator Metals Secures C$35M Private Placement With BlackRock as Lead Investor
Gladiator Metals Corp. announced it has secured BlackRock as lead investor in a non-brokered private placement raising C$35,040,000 through 7 million charity flow-through shares at C$3.87 and 3 million non-flow-through shares at C$2.65 per share.
Gladiator Metals Corp. (TSXV: GLAD) (OTCQB: GDTRF) closed a non-brokered private placement raising gross proceeds of C$35,040,000, with BlackRock serving as lead investor. The Vancouver-based mining company issued 7,000,000 charity flow-through common shares at C$3.87 per share and 3,000,000 non-flow-through common shares at C$2.65 per share. The offering was fully allocated to institutional investors.
BlackRock, which the company describes as the world's largest asset management firm, anchored the placement. The dual-structure offering gives certain investors access to Canadian tax benefits through the charity flow-through shares, which carry a 40 percent premium to the non-flow-through price. No brokerage or underwriting fees were disclosed in the announcement.
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