High River closes $100.13-million private placement
2007-11-08 09:02 ET - News Release
Shares issued 262,024,710
HRG Close 2007-11-07 C$ 2.96
An anonymous director reports
HIGH RIVER GOLD MINES LTD. CLOSES CDN$100 MILLION FINANCING
High River Gold Mines Ltd. has completed its previously announced bought deal public offering of units for gross proceeds of $100.13-million.
A syndicate of investment dealers led by GMP Securities LP and including CIBC World Markets Inc., Cormark Securities Inc. and Dundee Securities Corporation, purchased 32.3 million units at a price of $3.10 per unit pursuant to the offering.
Each unit comprised one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of High River at a price of $4.00 at any time prior to Nov. 8, 2010. Net proceeds of the offering will be used by the company for debt reduction, exploration and general corporate purposes, including working capital.
The company has granted the underwriters an overallotment option, which remains exercisable in whole or in part for a period of up to 30 days following the closing of the offering, to purchase additional units at the offering price and/or additional warrants at $0.38 per warrant, such that the total number of common shares and warrants issuable shall not exceed 4,845,000 common shares and 2,422,500 warrants, respectively.
We seek Safe Harbor. |
