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MAG Silver Corp Confirms CAD33.1 Million Private Placement

Thursday, 23 Aug 2012 09:19am EDT 

MAG Silver Corp announced that its previously disclosed private placement will be an offering of 3,526,210 common shares at a per share price of CAD9.40 (the Offering) for gross proceeds of approximately CAD33.1 million. The common shares will be subject to a four month hold period. The Offering is expected to close on or about September 5, 2012. The Company intends to use the net proceeds from the Offering to fund its share of the recently announced permitting and underground development program for Juanicipio, advancement of Cinco de Mayo including continued exploration as well as generation of an initial resource estimate, and for general corporate purposes. 

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