By Laura Lutz
Des Moines, April 27 - Red Back Mining Inc. increased the maximum size of its previously announced private placement of units to C$375 million from C$350 million. The company also set pricing for the deal.
The placement will include units of two-tenths of a special warrant and eight-tenths of a subscription receipt at C$5.40 per unit.
Each whole special warrant entitles the holder to one common share any time before the expiration date. Each whole subscription receipt entitles the investor to one share once the company completes its acquisition of the Tasiast gold project from Lundin Mining Corp.
The offering is being placed through a syndicate of agents led by GMP Securities LP and Cormark Securities Inc. and including Scotia Capital Inc., Haywood Securities Inc., Dundee Securities Corp. and Paradigm Capital Inc.
Proceeds will be used for the acquisition and for general corporate purposes.
Vancouver, B.C.-based Red Back is a gold exploration company.
| Issuer: | Red Back Mining Inc.
|
| Issue: | Units of two-tenths of a special warrant and eight-tenths of a subscription receipt
|
| Amount: | C$375 million
|
| Price: | C$5.40
|
| Warrants: | No
|
| Agents: | GMP Securities LP (lead), Cormark Securities Inc. (lead), Scotia Capital Inc., Haywood Securities Inc., Dundee Securities Corp., Paradigm Capital Inc.
|
| Announcement date: | April 20
|
| Pricing date: | April 27
|
| Stock symbol: | Toronto: RBI
|
| Stock price: | C$5.64 at close April 20
|
| Stock price: | C$5.63 at close April 27
|
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