February 3, 2010 / 11:21 PM / in 8 years

UPDATE 1-Fortuna Silver to raise C$30 mln in bought deal

* Says to issue 13.1 mln shrs at C$2.30/shr

* Offer at 11.5 pct discount to Tuesday’s close

Feb 3 (Reuters) - Canada’s Fortuna Silver Mines Inc (FVI.TO) said it will raise C$30 million ($28.3 million) in a bought deal financing to partly fund the construction of its San Jose project in the state of Oaxaca, Mexico.

The company said it will issue 13.1 million shares at C$2.30 apiece, a 12 percent discount to their closing price Tuesday, to a syndicate of underwriters, co-led by CIBC and Canaccord Financial Ltd.

The underwriters will have an over-allotment option of 15 percent of the offering, Fortuna said in a statement.

The offering is expected to close on or about March 2. Shares of the Vancouver, British Columbia-based company closed at C$2.49 Wednesday on the Toronto Stock Exchange. ($1=1.060 Canadian Dollar) (Reporting by Koustav Samanta in Bangalore; Editing by Gopakumar Warrier)

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