Mandalay Resources (MND-T) Sept 9, '14 and a fund advised by West Face Capital Inc. announced today the closing of the previously announced secondary offering by West Face of 40,000,000 common shares of Mandalay at a price of $1.10 per Common Share for gross proceeds to West Face of $44,000,000. The Offering was completed on a bought deal basis and was underwritten by BMO Capital Markets. The Underwriter also exercised its over-allotment option in full, resulting in the purchase of an additional 6,000,000 Common Shares at the Offering Price and thereby increasing the aggregate gross proceeds to West Face to $50,600,000. West Face now holds 90,987,938 Common Shares, representing approximately 26.6% of the outstanding Common Shares.1 The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Mandalay Resources Corporation
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and producing and development projects in Chile. Mandalay is focused on executing a rollup strategy, creating critical mass by aggregating advanced or in-production gold, copper, silver and antimony projects in Australia and the Americas to generate near-term cash flow and shareholder value.
About West Face Capital Inc.
West Face Capital Inc. is one of Canada's leading alternative investment managers combining control-through-distressed, high-yield, negotiated finance, proactive equity, and private equity activities. West Face's capabilities are underpinned by a seasoned multi-disciplinary investment team, proprietary origination channels, deep sector expertise, and the ability to address investment targets in domestic and international markets. |
