On April 14, 2016, Spada Gold Ltd., a capital pool company, announced that it had completed its initial public offering, having issued an aggregate of 2,000,000 common shares to purchasers in British Columbia and Alberta at a purchase price of $0.10 per share for gross proceeds of $200,000. The company’s common shares were listed on the TSX Venture Exchange under the trading symbol “SPL.P”.
Canaccord Genuity Corp. acted as agent in respect of the offering. Spada Gold issued to agents involved in the offering non-transferable options to acquire an aggregate of up to 200,000 common shares for a period of two years from the date that shares commenced trading at an exercise price of $0.10 per share.
Blair Lowther of Miller Thomson advised Canaccord Genuity with respect to this transaction.