MAG Silver takes in $65.01 million through private placement of shares

Bought-deal offering sells 8,905,000 common shares at $7.30 per share

By Devika Patel

Knoxville, Tenn., March 1 – MAG Silver Corp. said it settled a $65.01 million private placement of stock. The deal priced for $65.01 million with a $9.75 million greenshoe on Feb. 22.

The company sold 8,905,000 common shares at $7.30 per share. The price per share reflects a 9.99% discount to $8.11, the Feb. 19 closing share price.

The offering was conducted on a bought-deal basis by a syndicate of underwriters led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and Raymond James Ltd. and including Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., TD Securities Inc., Cormark Securities Inc., Desjardins Securities Inc. and PI Financial Corp.

Proceeds will be used for development and exploration expenditures at the Juanicipio Project, working capital and general corporate purposes.

Vancouver, B.C.-based MAG Silver explores for silver, lead, zinc and moly-gold, primarily in Mexico.

Issuer:	MAG Silver Corp.
Issue:	Common stock
Amount:	$65,006,500
Greenshoe:	$9,750,975, or 1,335,750 shares
Shares:	8,905,000
Price:	$7.30
Warrants:	No
Underwriters:	Scotia Capital Inc., BMO Nesbitt Burns Inc. and Raymond James Ltd. (leads), Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., TD Securities Inc., Cormark Securities Inc., Desjardins Securities Inc. and PI Financial Corp.
Pricing date:	Feb. 22
Settlement date:	March 1
Stock symbol:	NYSE: MVG
Stock price:	$8.11 at close Feb. 19
Market capitalization:	$485.62 million

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