Key Developments: PMI Gold Corp (PMV.TO)

PMV.TO on Toronto Stock Exchange

0.48CAD
10 Feb 2014
Price Change (% chg)

$0.03 (+6.67%)
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Latest Key Developments (Source: Significant Developments)

PMI Gold Corporation Decreases Stake In Waratah Investments Pty Ltd
Friday, 11 Jan 2013 01:00am EST 

PMI Gold Corporation announced that it has decreased its stake in Waratah Investments Pty Ltd from 10.86% to 5.49%.  Full Article

PMI Gold Corporation And Keegan Resources Inc Announces Merger Agreement
Wednesday, 5 Dec 2012 06:45am EST 

PMI Gold Corporation and Keegan Resources Inc. announced that they have entered into a definitive arrangement agreement to combine their respective businesses (the Merger) and to create a West African gold development company. The combined company will continue under the name Asanko Gold Inc., reflective of the West Ghana region in which the two companies hold their principal gold projects. Asanko will be led by Peter Breese, the current President and CEO of Keegan and Collin Ellison, the current Managing Director and CEO of PMI. Under terms of the Merger (which will be effected by means of a statutory plan of arrangement of PMI), each PMI shareholder will receive 0.21 Asanko shares for each PMI share (the Exchange Ratio). As Keegan is the surviving corporate entity, existing Keegan security holders will not need to exchange their securities in the Merger. Existing Keegan and PMI shareholders will each own approximately 50% of the combined company, inclusive of currently in-the-money dilutive securities. PMI has retained Macquarie Capital Markets Canada Ltd. to act as financial advisor and Stikeman Elliott LLP to act as legal advisor. Keegan has retained Canaccord Genuity to act as financial advisor and McMillan LLP to act as legal advisor.  Full Article

PMI Gold Corporation Graduates To TSX
Wednesday, 28 Nov 2012 05:36pm EST 

PMI Gold Corporation announced that it has completed all necessary requirements for graduation from the TSX Venture Exchange to the Toronto Stock Exchange (the TSX) main board, including receipt of final approval from the TSX. PMI's common shares will commence trading on the TSX main board at market open on November 30, 2012. The Company's common shares will continue to trade under the symbol PMV. At this time, the Company's common shares will also be delisted from and cease trading on the TSX Venture Exchange.  Full Article

PMI Gold Corporation Announces Grant Of Mining Leases For Obotan Gold Project
Wednesday, 21 Nov 2012 04:31pm EST 

PMI Gold Corporation announced that the Mining Leases covering its flagship 100%-owned Obotan Gold Project in south-west Ghana have been formally granted by the Minister of Lands and Natural Resources. The formal grant of the three Mining Leases (renewable under the terms of the Minerals and Mining Act, 2006) follows the favorable recommendation by the Minerals Commission of Ghana in September. The Mining Leases cover a total area of 93.24 square kilometer, encompassing the four key deposits at Obotan, the main Nkran deposit and the smaller satellite deposits, Abore, Adubiaso and Asuadai. In conjunction with the formal issue of the Mining Leases, PMI has also received a key water discharge permit for the Obotan operation which will allow PMI to commence its dewatering operations of the Nkran and Adubiaso pits.  Full Article

PMI Gold Corporation Announces CAD100 Million Equity Financing
Wednesday, 10 Oct 2012 10:09am EDT 

PMI Gold Corporation announced that in connection with its previously announced overnight marketed public offering (Offering) of common shares (Common Shares), it has entered into an underwriting agreement with a syndicate of underwriters led by Clarus Securities Inc. and RBC Capital Markets as joint bookrunners and co-lead underwriters, and including Canaccord Genuity Corp., Euroz Securities Limited, GMP Securities L.P. and Raymond JamesLtd. (collectively, the Underwriters) to sell 119,050,000 Common Shares of the Company at a price of CAD0.84 per share for gross proceeds of CAD100,002,000. In addition, the Company has granted the Underwriters an over-allotment option to purchase up to that number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time up to 30 days after the closing of the Offering. The Company plans to use the net proceeds of the Offering to fund the development of the Company's Obotan Gold Project in accordance with its definitive feasibility study, for Ghana exploration activities and for general and administrative expenses.  Full Article

PMI Gold Corporation Announces USD 30 Million Standby Funding Facility
Wednesday, 26 Sep 2012 06:32pm EDT 

PMI Gold Corporation announced that it has entered into a committed letter offer for a USD 30 million standby funding facility from Macquarie Bank Limited while it completes the full funding package for development of its flagship 100%-owned Obotan Gold Project in Ghana. Some of the key terms of the Macquarie Facility include: maturity date is the earlier of June 30, 2014 or the first draw-down under a project financing/equity funding of the Project; interest rate of 6% over LIBOR; associated warrant issue terms are: 600,000 facility fee warrants; draw-down warrants: being 50% of drawn down funds divided by the exercise price; and all warrants expiring three years from date of issue at an exercise price at a premium to VWAP in CAD; cancellable in whole or in part at the discretion of the borrower; security and general commercial terms standard for this type of facility; and the facility and the project finance facility are non-related.  Full Article

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