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

To: Condor who wrote (30988)	9/28/2004 3:53:47 PM
From: Cal Gary	Respond to of 39344

CBJ Halted and Sprott is lead on $90mm bought deal financing. Sign of confidence in this sector. Cambior arranges $90-million bought-deal financing 2004-09-28 15:20 ET - News Release Mr. Robert LaValliere reports CAMBIOR ANNOUNCES $90 MILLION BOUGHT DEAL Cambior Inc. has entered into an agreement with a syndicate of underwriters led by Sprott Securities Inc. and including Dundee Securities Corp., BMO Nesbitt Burns Inc., National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc., Orion Securities Inc., Paradigm Capital Inc. and Haywood Securities Inc., pursuant to which the underwriters have agreed to purchase 24 million units on a bought-deal basis at a price of $3.75 per unit for gross proceeds to Cambior of $90-million. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable at a price of $4.35 for a period of two years from the closing date. The underwriters will have the option to purchase up to an additional 5,333,333 units at the issue price at any time prior to the closing date. The offering is scheduled to close on or about Oct. 14, 2004, 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. Proceeds of the offering will be used by the company to finance the cash portion of the purchase price of the acquisition of a 55.3-per-cent interest in Companie Minera Poderosa S.A. and for general corporate purposes.