Snowline Gold Secures $102 Million in Oversubscribed Financing

Snowline Gold Corp. announced the closing of an oversubscribed "bought deal" public offering, raising $91,999,800 through the issuance of 10,222,200 common shares at $9.00 each. An additional $10,108,746 was raised via a concurrent private placement with existing shareholder B2Gold Corp., bringing total gross proceeds to $102,108,546. B2Gold Corp. maintained its 9.9% stake in the company. The proceeds will be used to advance Snowline's projects in the Yukon Territory and for general corporate purposes.

The public offering was led by Canaccord Genuity Corp. and BMO Capital Markets, among others. The offering involved a short form prospectus filed in several Canadian provinces, while shares were also privately placed in the U.S. under an exemption from registration. The private placement shares are subject to a hold period per Canadian securities laws.