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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (7330)	2/4/2003 8:44:45 PM
From: Rocket Red	Read Replies (2) \| Respond to of 39344

Wheaton River Minerals Ltd (C-WRM) - News Release Wheaton River arranges $333.5-million financing Wheaton River Minerals Ltd WRM Shares issued 79,001,620 Feb 4 2003 close $ 1.45 Tuesday February 4 2003 News Release An anonymous director reports WHEATON RIVER ANNOUNCES CDN.$333.5 MILLION FINANCING TO FUND ... Wheaton River Minerals has engaged BMO Nesbitt Burns Inc. and Griffiths McBurney & Partners, as lead agents on behalf of a syndicate which also includes Canaccord Capital Corporation, CIBC World Markets Inc., Yorkton Securities Inc., Fahnestock Canada Inc. and Sprott Securities Inc., to sell, by way of private placement, 230 million subscription receipts at a price of $1.45 per subscription receipt for gross proceeds of $333.5-million. Each subscription receipt will entitle the holder to acquire one common share and one-quarter of one common share purchase warrant of Wheaton River, without payment of additional consideration. Each whole warrant will be exercisable for one common share at a price of $1.65 until May 30, 2007. The proceeds will be used by Wheaton River to finance the $210-million (U.S.) purchase price of Rio Tinto's 25-per-cent interest in the Bajo de la Alumbrera gold-copper mine in Argentina and 100-per-cent interest in the Peak gold mine in Australia. The proceeds will be held in escrow pending: (i) receipt for a final prospectus in each province of Canada qualifying the distribution of the common shares and warrants underlying the subscription receipts; (ii) filing and acceptance of a registration statement in the United States registering such common shares and warrants; and (iii) closing of the acquisition. With the acquisition, Wheaton River will transform itself into the eighth largest Canadian gold producer with estimated production in 2003 of 458,500 gold equivalent ounces (371,000 gold ounces and 6.4 million silver ounces) at an estimated pro forma cash cost of $124 (U.S.) per gold equivalent ounce in 2003 (net of copper revenue). Completion of the private placement is subject to receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange and the American Stock Exchange. It is anticipated that closing of the private placement will occur on or about Feb. 27, 2003. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com old url (better for printing)