First Quantum Minerals Ltd. (TSE Symbol "FM", LSE Symbol "FQM") is pleased
to announce that it has received a receipt for its Final Prospectus with
the British Columbia and Ontario Securities Commissions in connection with
a public offering of common shares initially announced by First Quantum on
April 9, 2001. Due to increased demand, the Final Prospectus reflects an
increase in the size of the Offering from what was previously announced.
The Offering now consists of a minimum of 4,557,700 common shares and a
maximum of 7,596,180 common shares at an offering price of Cdn$4.05 per
share, raising gross proceeds of a minimum of Cdn$18,458,685 and a maximum
of Cdn$30,764,529. The over-allotment option granted to Canaccord Capital
(Europe) Limited as Agent in connection with the Offering has also been
increased from 10% to 15% of the number of shares sold pursuant to the
Offering. The Offering will be made in Canada in the provinces of British
Columbia and Ontario through Canaccord Capital Corporation, and, on a
private placement basis, in Europe through Canaccord Capital (Europe)
Limited and elsewhere through Canaccord and its affiliates.
First Quantum intends to use the net proceeds from the Offering to reduce
debt, to fund potential capital expenditures at the Nkana and Mufulira
Divisions of Mopani Copper Mines Plc, to fund a study of expansion
alternatives for the Bwana Mkubwa Copper Mine, and to fund ongoing working
capital requirements and future acquisitions.
It is expected that closing of the Offering will take place on or before
June 15, 2001. |
