GLV has entered the bought-deal financing agreement with the syndicate led by RCB Capital Markets and National Bank Financial to sell an aggregate of 4,500,000 subordinate voting shares of GLV at a price of C$8.90 per share, for gross proceeds of C$40,050,000.
The offering is expected to close on or about 31 March 2010, and is subject to certain conditions including the receipt of all required regulatory approvals. GLV intends to use the net proceeds of the offering for general corporate purposes.