Great Bear Resources (GBR.V) is taking advantage of the money that’s currently available on the financial markets to raise C$14.6M in a bought deal of flow-through shares. Cormark Securities and Canaccord Genuity will be co-lead underwriters to place 1.75 million flow-through shares at a price of $8.35 per flow through share. The overallotment option allows the underwriters to sell an additional 250,000 flow-through shares which would add an additional C$2M to the treasury.
And now it’s just waiting for Great Bear to announce it will expand its 90,000 meter drill program to 120,000 or 150,000 meters as the company now has plenty of flow-through funds to just continue to drill. After all, approximately 13 kilometers of the strike length along the LP Fault Zone still needs to be drilled…
Disclosure: The author has a long position in Great Bear. Great Bear also is a sponsor of the website.
