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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: Letmebe Frank who wrote (7107)	10/29/2003 9:11:26 AM
From: kidl	Read Replies (1) \| Respond to of 7235

HALTED - NEWS - WOW!!! SouthernEra Enters Into Agreement For A $64 Million Bought Deal ccnm TORONTO, ONTARIO-- THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. SouthernEra Resources Limited (TSE: SUF, AIM: SRE) announced today that it has entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets and BMO Nesbitt Burns Inc. to issue and sell 10.0 million units, each unit consisting of one common share and one-half share purchase warrant, at a price of $6.40 per unit. Each full warrant will entitle the holder to acquire at any time up to 5 years following closing pf this offering, one common share from SouthernEra at a price of $10.00 per share. The Company has also granted the underwriters an option to purchase up to an additional 2.5 million units prior to closing of this offering. Gross proceeds of this transaction will be $64 million assuming that the underwriters' option is not exercised. The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals. Closing is expected on or about November 17, 2003. The proceeds from this financing will be used to support debt restructuring, further develop the greater Messina platinum group metal mine and for general corporate purposes. The securities offered have not been registered under the U.S Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. SouthernEra Resources Limited is an independent producer of platinum group metals (PGMs) and diamonds. The Company also has an extensive PGM and diamond exploration program. The common shares of SouthernEra are traded on the Toronto Stock Exchange (SUF) and the London Stock Exchange's AIM (SRE). FOR FURTHER INFORMATION PLEASE CONTACT: SouthernEra Resources Limited Patrick C. Evans President and CEO (416) 359-9282 (416) 359-9141 (FAX) or Dr. Sally Eyre Vice President Corporate Affairs (416) 359-9282 (416) 359-9141 (FAX) inbox@southernera.com