18 Nov 2013capital raising announcement● NeutralMajor
Veris announced another marketed public offering, this one Canada-only: units at $0.475 and flow-through units at $0.525, each with a quarter warrant exercisable at $0.60 for 36 months, with closing expected by November 27, 2013. Proceeds are to cover payments under the forward gold purchase agreement, the Jerritt Canyon dry mill upgrade, Saval 4 development, Ketza River exploration, reclamation bonding and working capital. The release is signed by François Marland as President and CEO, replacing R. Llee Chapman, who signed the earlier releases. Further share issuance would dilute existing holders.