BLE.WT come out Monday I think. These wts bu one share for 5 years at $9. I think. Moly.
Blue Pearl Mining Ltd (C-BLE) - News Release
Blue Pearl arranges $200.2-million offering
2006-10-13 09:15 ET - News Release
Shares issued 50,449,828
Close 2006-10-12 C$ 5.93
Mr. Ian McDonald reports
BLUE PEARL ANNOUNCES PRICING OF PUBLIC OFFERING OF SUBSCRIPTION RECEIPTS
Blue Pearl Mining Ltd. has determined the pricing for the proposed offering of subscription receipts of the company. Blue Pearl will offer 36.4 million subscription receipts at a price of $5.50 per subscription receipt for gross proceeds to Blue Pearl of $200.2-million. Upon completion of the company's acquisition of Thompson Creek Metals Company, each subscription receipt will be automatically exchanged for one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of the company for a period of five years from the closing of the offering at a price of $9. The offering is being conducted on a best-efforts basis through a syndicate of agents co-led by GMP Securities LP and UBS Securities Canada Inc., and including Canaccord Capital Corp., Orion Securities Inc., Blackmont Capital Inc., Dundee Securities Corp. and Toll Cross Securities Inc. The company has granted the agents an overallotment option for a period of 30 days from the closing of the offering, under which they may purchase up to an additional 5.46 million subscription receipts (or the equivalent number of underlying common shares and warrants if the acquisition of Thompson Creek has been completed by the time the overallotment option is exercised), to cover overallotments, if any, and for market stabilization purposes.
Contemporaneously with the closing of the Thompson Creek acquisition, one of the vendors of Thompson Creek has agreed to purchase 7,227,182 common shares and 3,613,591 warrants for proceeds to Blue Pearl of $39,749,501 (approximately $35-million (U.S.)).
The gross proceeds from the offering will be held in escrow until all of the conditions precedent to the acquisition of Thompson Creek have been fulfilled. Blue Pearl plans to use the proceeds from the offering and the proceeds from the Thompson Creek vendors' subscription, together with the proceeds from the company's debt financing, to finance the purchase price for the Thompson Creek acquisition of $575-million (U.S.), for transaction costs relating to the Thompson Creek acquisition, the offering and the debt financing, and for general corporate and working capital purposes.
The offering is scheduled to close on or about Oct. 23, 2006, and is subject to certain conditions, including, but not limited to, the entering into of a definitive agency agreement, the filing of a final prospectus and the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the Canadian securities regulatory authorities.
We seek Safe Harbor. |
