Who: Claude Resources Inc.
Amount: $25.0 Million
Type of Transaction: Growth Financing
Date: April 2013
Undervalued gold producer avoids ownership dilution
Subordinated term loan allows this top-performer to expand and refinance, without resorting to expensive equity dilution.
- Focused on its Seabee Gold Project located in Northern Saskatchewan
- Listed on the TSX
- Trading significantly below its net asset value
- Sensitive to ownership dilution
- Needed capital for expansion of the Seabee Gold Project, refinancing and general corporate purposes
- $25 MM, 60 month subordinated term loan issued in April 2013
- 10% interest rate
- Crown was issued share purchase warrants
- Claude is currently one of the top performing junior gold producers