Skip to main content
This website uses cookies. By continuing to use this website you are agreeing to our use of cookies as described in our privacy policy.
Client Work

International Royalty completes US$45 million bought-deal financing

Fasken
Reading Time 1 minute read Subscribe
Client

International Royalty

On February 12, 2007, International Royalty Corporation ("IRC") announced that it had closed its offering of 7,408,000 units of IRC at a price of $5.40 per unit for total gross proceeds of approximately $40 million. Each unit is comprised of one common share of IRC and one-half of one common share purchase warrant of IRC, with each whole warrant entitling the holder thereof to acquire a further common share at an exercise price of $6.50 per share until November 12, 2007, and at $7.00 per share from November 13, 2007 until August 12, 2008. Immediately following the closing of the offering, the underwriters exercised their over-allotment option to acquire 926,000 units of IRC at a price of $5.40 per unit for gross proceeds of approximately $5 million. In the aggregate, 8,334,000 units were sold for gross proceeds of $45,003,600. Haywood Securities Inc. acted as the lead underwriter in connection with the offering, with Scotia Capital Inc. and GMP Securities L.P. comprising the remainder of the syndicate. IRC is a global mineral royalty company, senior listed on the Toronto Stock Exchange as well as the American Stock Exchange. IRC was advised in this financing by a team from Fasken Martineau comprised of Michael Bourassa, Nancy Eastman, Brad Freelan and Daye Kaba.

    Subscribe

    Receive email updates from our team

    Subscribe