Copper Mountain Announces Bought Deal Financing for Proceeds of Cdn$30 Million
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 11, 2013) -
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Copper Mountain Mining Corporation ( CUM.TO) ("Copper Mountain" or the "Company") is pleased to announce that it has entered into an agreement with National Bank Financial Inc. as lead underwriter on behalf of a syndicate of underwriters to be formed (the "Underwriters"), for the issuance of 17,700,000 common shares (the "Shares") of the Company, on a bought deal basis, at a price of Cdn$1.70 per Share for aggregate gross proceeds of Cdn$30,090,000 (the "Offering").
Copper Mountain plans to use the net proceeds of this financing for the construction of a secondary crusher to increase production at the Copper Mountain Mine site and for general corporate purposes.
The Underwriters also have the option to increase the size of the Offering by up to an additional 2,655,000 Shares (the "Underwriters' Option") at any time until 30 days following the closing of the Offering, for aggregate gross proceeds under the Offering of Cdn $34,603,500 if the Underwriters' Option is exercised in full.
The Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada, other than Quebec, pursuant to National Instrument 44-101 Short Form Prospectus Distributions.
The offering is scheduled to close on or about December 3, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.
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