Minefinders Closes C$40 Million Bought Dealadmin
Minefinders Corporation Ltd. reported that the Company has closed its previously announced C$40,020,000 bought deal offering in which a syndicate of underwriters purchased 9,200,000 units from Minefinders for sale to the public at a price of C$4.35 per unit. Each unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the Company, at a price of C$5.00 per common share, on or before December 31, 2011.
The lead underwriters for the offering were Scotia Capital Inc. and BMO Capital Markets with an underwriting syndicate that also included Salman Partners Inc.
The gross proceeds of the offering were $40,020,000. The Company intends to use the net proceeds of the offering to enhance working capital, reduce indebtedness and for general corporate purposes.
Minefinders is a precious metals mining and exploration company and operates the multi-million ounce Dolores gold and silver mine in Mexico. The Company continues its exploration efforts on other prospective projects in Mexico to build a quality pipeline of precious metals projects for future growth.