Brigus Gold (BRD-T)
www.brigusgold.com
286 million o/s
Major shareholders:
Sprott Asset Management
Van Eck Associates
Baker Steel Capital Managers
Earth Resources Investment Group
Libra Advisors
Front Street Capital
Acuity Investment Management
Dimensional Fund Advisors
Perennial Investors
Middlefield Capital Corporation
BlackRock Advisors
$24 million cash
Company presentation
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Brigus Gold closes $30-million bought deal
Oct 30, 2012 - News Release
Brigus Gold Corp. has completed the previously announced $30-million bought-deal debt financing. The financing was arranged by Casimir Capital for a finance structure fee of 2.77 per cent. The $30-million in senior secured debt notes are secured by a lien against the company's Black Fox complex and the Goldfields properties with a three-year term. Principal payments of $2-million will be paid quarterly, commencing on June 30, 2013. The notes will bear interest at an annual rate as calculated in the attached table, which shall be paid monthly based on the closing Bloomberg Composite New York gold price from the prior month.
Bloomberg Composite New York gold price Annual interest rate ($U.S. per ounce) From $0 to $1,799.99 9% From $1,800 to $1,999.99 10% From $2,000 to $2,499.99 12% From $2,500 and above 14%
The company will use $24.4-million of the debt proceeds to repurchase 4 per cent of the existing 12-per-cent gold stream with Sandstorm Gold Ltd. Under the agreement with Sandstorm, the company may repurchase up to 6 per cent of the gold stream until Jan. 1, 2013. Brigus will make a decision on the remaining 2 per cent prior to the end of the year.
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