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Oracle Mining Corp Files Final Prospectus For Offering


Saturday, 10 Nov 2012 07:37pm EST 

Oracle Mining Corp announced that it has filed a final short form prospectus (the Prospectus) with the securities regulatory authorities in British Columbia, Alberta and Ontario, in connection with a 'best efforts' agency marketed offering of up to 23,529,411 units (Units) of the Corporation (the Offering) for gross proceeds of up to $20 million. Each Unit consists of one common share (Common Share) of the Corporation and one-half of one common share purchase warrant (each whole warrant, a Warrant) at a price of $0.85 per Unit (the Offering Price). Each Warrant will entitle the holder thereof to acquire a Common Share at a price of $1.02 for a period of 24 months from the date of issue. The Offering is being led by Paradigm Capital Inc. and a syndicate of agents including Clarus Securities Inc., Haywood Securities Inc., Roth Capital Partners, LLC, National Bank Financial Inc. and Toll Cross Securities Inc. (collectively, the Agents). Oracle Mining expects to raise aggregate gross proceeds of up to $20 million pursuant to the Offering assuming that the Over-Allotment Option is not exercised, and up to $23 million if the Over-Allotment Option is fully exercised. Oracle Mining intends to use the net proceeds from the Offering towards activities related to the continued development of its Oracle Ridge Copper Mine located in Arizona, USA, including its drilling program, project development studies and permitting, and for working capital and general corporate purposes. 

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25 Jul 2014