DIB news:
Dia Bras to raise up to $10.46-million
Dia Bras Exploration Inc (C:DIB)
Shares Issued 83,047,686
Last Close 7/14/2006 $0.89
Monday July 17 2006 - News Release
Mr. Thomas Robyn reports
DIA BRAS EXPLORATION ANNOUNCES $10 MILLION BOUGHT DEAL FINANCING
Dia Bras Exploration Inc. has entered into an agreement with a group of investment dealers, led by Dundee Securities Corp., which has agreed to purchase 13 million common shares of the company at a purchase price of 70 cents per common share for gross proceeds of $9.1-million. The company has also agreed to provide the underwriters an overallocation option to acquire a further 1.95 million common shares at 70 cents per common share, which, if exercised, will result in total gross proceeds of $10,465,000.
The common shares to be sold under this offering will be offered by way of a short form prospectus in the provinces of British Columbia, Alberta, Ontario and Quebec.
The net proceeds of the offering will be used to finance the Dia Bras exploration and development program at the newly acquired Cusi silver mining camp, to increase the Malpaso mill capacity from 300 to more than 600 tonnes per day circuit and for the general working capital of the company.
The offering is scheduled to close on Aug. 3, 2006, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and any other applicable securities regulatory authorities.
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