Lundin Mining Closes Cdn $189 Million Public Offering

April 27, 2009 · Posted in Mining Companies, Mining Exploration

Sponsored Links

Lundin Mining Corporation is pleased to report that it has closed its previously announced bought deal equity financing, including the full amount of the underwriters’ over-allotment option, for aggregate gross proceeds to Lundin Mining of Cdn$188.6 million. The underwriters, led by GMP Securities L.P. and including BMO Capital Markets, Scotia Capital Inc., Canaccord Capital Corporation, Cormark Securities Inc., Dundee Securities Corp., Haywood Securities Inc. and Macquarie Capital Markets Canada Ltd. (the “Underwriters”), purchased an aggregate of 92 million common shares of Lundin Mining at a price of Cdn$2.05 per share. The total number of shares purchased included 12 million common shares issued upon exercise of the underwriters’ over-allotment option.

Lundin Mining plans to use the net proceeds from the offering towards the partial repayment of its credit facility, investment in the Tenke Fungurume project and for working capital and general corporate purposes.

The common shares were offered by way of a short form prospectus filed in all of the provinces of Canada, other than Quebec, pursuant to National Instrument 44-101 Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

This press release is not an offer of common shares for sale in the United States. The common shares have not been and will not be 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 an applicable exemption from registration.

Related posts: