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Torex Gold Resources Inc Announces CAD350 Million Bought Deal Financing


Monday, 1 Oct 2012 03:17pm EDT 

Torex Gold Resources Inc announced that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis by way of a short form prospectus, 175,000,000 units (the Units) each unit consisting of one common share and one quarter of one common share purchase warrant, at a price of CAD2.00 per Unit for gross proceeds of CAD350 million (the Offering). Each whole common share purchase warrant will entitle the holder to purchase one common share of the Company at a price of $2.65 prior to the date which is 12 months following the closing of the Offering. The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about October 23, 2012 and is subject to the Company receiving all necessary regulatory approvals. The net proceeds of the Offering will be used to fund the development of the Morelos Gold Project and for general corporate purposes. 

Company Quote

1.5
-0.01 -0.94%
22 Jul 2014