If the Over-Allotment Option is exercised in full, after giving effect to the issuance of an additional 1,339,500 Shares by Gatos Silver and the sale of an additional 375,000 Shares by Electrum, Electrum would own 21,709,713 of the 70,043,701 Shares then outstanding, or 30.99%, representing a decrease of 12.93% from the 43.92% ownership percentage last reported by Electrum on October 30, 2020.Įlectrum has entered into a customary lock-up agreement with the underwriters of the Offering pursuant to which it has agreed not to dispose of any additional Shares for a period of 90 days. This is a decrease of 11.78% from the 43.92% ownership of Shares last reported by Electrum on October 30, 2020.
$50,300,425.įollowing the completion of the Offering but without giving effect to the exercise of the Over-Allotment Option, Electrum now owns 22,084,713 of the 68,704,201 Shares currently outstanding, of which 17,960,005 Shares are owned by ESUS and 4,124,708 are owned by ESUS II, representing 32.14% of the Shares outstanding (of which 26.14% are owned by ESUS and 6% are owned by ESUS II). $6,560,925 based on the current exchange rate, for total gross proceeds of U.S. If the Over-Allotment Option is exercised in full, Electrum will receive additional gross proceeds of U.S. Gatos Silver and Electrum have also granted an over-allotment option to the underwriters of the Offering (the “ Over-Allotment Option”) which, if exercised in full, would result in the sale of an additional 1,339,500 Shares by Gatos Silver and an additional 375,000 Shares by Electrum, at the same price per Share. The Offering consisted of a primary offering of 8,930,000 newly-issued Shares by Gatos Silver and a secondary offering of 2,500,000 Shares by Electrum, of which 2,033,081 Shares were sold by ESUS and 466,919 Shares were sold by ESUS II. (“ Gatos Silver”) pursuant to an underwritten public offering in the United States and Canada (the “ Offering”) at a price of U.S.
NEW YORK, J(GLOBE NEWSWIRE) - Electrum Silver US LLC (“ ESUS”) and Electrum Silver US II LLC (“ ESUS II” and, together with ESUS, “ Electrum”) announced today the completion of a sale of shares of common stock (the “ Shares”) of Gatos Silver, Inc. This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
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