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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (13428)	7/7/2015 8:35:36 AM
From: Goose94	Read Replies (1) \| Respond to of 202704

TMAC Resources (TMR-T) July 7, '15 has successfully closed its initial public offering of common shares. Under the offering, TMAC issued 22.5 million common shares at a price of $6.00 per common share for aggregate gross proceeds to TMAC of $135-million. The distribution of the common shares under the offering was qualified by way of prospectus dated June 26, 2015, filed with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec. The underwriting syndicate for the offering was led by BMO Capital Markets and CIBC, and included Dundee Securities Ltd., GMP Securities LP, National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc. TMAC's common shares will commence trading on the Toronto Stock Exchange under the symbol TMR at the opening of trading today. The net proceeds raised under the offering will be used to advance the Hope Bay project to planned first production by the end of 2016, for exploration activities and general corporate purposes. TMAC has granted the underwriters an option, exercisable in whole or in part for a 30-day period after closing of the offering, to purchase up to an additional 3,375,000 common shares of TMAC at $6.00 per common share. If the underwriters exercise the overallotment option in full, the total gross proceeds raised under the offering will be $155.25-million. Terry MacGibbon, TMAC's executive chairman, stated: "We are extremely pleased with the strong support TMAC has received, which allowed us to upsize our initial public offering. Our priority now is to continue advancing the Hope Bay project towards planned first production by the end of 2016." Catharine Farrow, TMAC's chief executive officer, stated: "The completion of the $135-million offering, along with the approximately $68-million dedicated for capital expenditures that TMAC had in its treasury in January, 2015, and the $120-million (U.S.) term loan facility (approximately $150-million at current currency rates), will provide TMAC with over $350-million. This amount, excluding the possible overallotment option, will not only fully fund the construction of the Hope Bay project, budgeted to cost approximately $272-million, but will provide a significant capital overrun cushion, if needed. We are currently finalizing the definitive documents and agreements related to the Sprott Resource Lending Partnership and Morgan Stanley Capital Group Inc. loan facility, and expect to close that facility shortly." About TMAC Resources TMAC Resources Inc. was incorporated under the OBCA on October 30, 2012. The Company’s principal business objectives are the acquisition, exploration and development of precious metal resource properties. The Company’s principal asset is a 100% interest in the Hope Bay Project, which it acquired from Newmont in March 2013. The Company’s near term goal is to bring the Hope Bay Project into production, beginning with bringing the Doris deposit into production by the end of 2016. Since TMAC’s incorporation, it has focused on the exploration and development of the Hope Bay Project and the raising of equity capital to fund property exploration and development. The Company has an experienced board of directors with depth of experience and market credibility and an exploration and development team with an extensive track record of developing high grade, profitable underground mines. No securities regulatory authority has either approved or disapproved of the contents of this press release. Contact Information: Terry MacGibbon Catharine Farrow 416-628-0216 416-628-0216