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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (16388)	3/10/2016 7:44:48 PM
From: Goose94	Read Replies (2) of 202985

Belo Sun Mining (BSX-T) March 10, '16 announces that Agnico Eagle Mines (AEM-T) has entered into a subscription agreement to make an additional strategic investment of C$6.19 million into Belo Sun through a non-brokered private placement of common shares. Under the terms of the subscription agreement, Agnico Eagle will purchase a total of 11.68 million common shares at a price of C$0.53 per share. As a result of this transaction, Agnico Eagle will own 74.18 million shares, or 19.95%, of Belo Sun's issued and outstanding shares on a non-diluted basis. Peter Tagliamonte, President and CEO of Belo Sun, commented "We are very pleased with Agnico Eagle's continued support as a strategic shareholder. This investment further endorses the quality and potential of the Volta Grande Project. This additional source of capital will allow us to continue advancing the detailed engineering in preparation for construction." The closing of the private placement is expected to occur on or about March 16, 2016 and is subject to receipt of all necessary regulatory approvals. The common shares issuable pursuant to the private placement are subject to a statutory four-month hold period. Upon closing of the private placement, Agnico Eagle will continue to have a right to participate in future equity offerings by the Company in order to maintain its pro-rata investment in the Company and a right (which Agnico Eagle has not exercised) to nominate one person to the board of directors of the Company. The Company intends to use the proceeds of the transaction to advance the detailed engineering and development of the Volta Grande Project and for general working capital purposes. About the Company Belo Sun Mining Corp. is a Canadian-based mineral exploration and development company with a portfolio of gold-focused properties in Brazil. The Company is currently focused on advancing its 100%-owned Volta Grande Project to construction. Belo Sun trades on the Toronto Stock Exchange under the symbol "BSX". For more information about Belo Sun please visit www.belosun.com. Belo Sun Mining Corp. 416-861-1685 www.belosun.com

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