Owner
Post by Franko10 ™ on Mar 16, 2005 16:51:41 GMT -5
Shore Gold announces underwriters exercise option to purchase additional 3 million shares for $16.5 million
16:24 EST Wednesday, March 16, 2005
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
Stock Symbol: SGF: TSX
SASKATOON, March 16 /CNW/ - Kenneth E. MacNeill, President and Chief Executive Officer of Shore Gold Inc. ("Shore") is pleased to announce that further to its recently announced bought deal financing, the syndicate of underwriters led by Genuity Capital Markets have exercised their option to purchase an additional 3 million Common Shares of Shore at a price of $5.50 per share for additional aggregate gross proceeds of $16.5 million. With the exercise of the option, the aggregate gross proceeds of the offering will be $116.6 million.
Shore intends to use the net proceeds of the offering for the exploration and development of the Star Kimberlite Project and for general corporate purposes.
As previously announced, Newmont Mining Corporation of Canada Limited ("Newmont") is participating in the offering and after the offering will own 9.9% of the issued shares of Shore. Newmont is the world's largest gold producer with significant assets or operations on five continents.
The offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. Closing of the offering is expected to occur on March 22, 2005.
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of Shore trade on the TSX Exchange under the trading symbol "SGF".
The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
The information in this news release contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties which are beyond Shore Gold's control, including: the impact of general economic conditions and the price of diamonds. Shore's actual results and performance could differ materially from those expressed in, or implied by, such forward looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Shore Gold will derive from them.
/For further information: please contact: Kenneth E. MacNeill, President & C.E.O. or Harvey Bay, C.F.O. at (306) 664-2202/
16:24 EST Wednesday, March 16, 2005
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
Stock Symbol: SGF: TSX
SASKATOON, March 16 /CNW/ - Kenneth E. MacNeill, President and Chief Executive Officer of Shore Gold Inc. ("Shore") is pleased to announce that further to its recently announced bought deal financing, the syndicate of underwriters led by Genuity Capital Markets have exercised their option to purchase an additional 3 million Common Shares of Shore at a price of $5.50 per share for additional aggregate gross proceeds of $16.5 million. With the exercise of the option, the aggregate gross proceeds of the offering will be $116.6 million.
Shore intends to use the net proceeds of the offering for the exploration and development of the Star Kimberlite Project and for general corporate purposes.
As previously announced, Newmont Mining Corporation of Canada Limited ("Newmont") is participating in the offering and after the offering will own 9.9% of the issued shares of Shore. Newmont is the world's largest gold producer with significant assets or operations on five continents.
The offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. Closing of the offering is expected to occur on March 22, 2005.
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of Shore trade on the TSX Exchange under the trading symbol "SGF".
The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
The information in this news release contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties which are beyond Shore Gold's control, including: the impact of general economic conditions and the price of diamonds. Shore's actual results and performance could differ materially from those expressed in, or implied by, such forward looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Shore Gold will derive from them.
/For further information: please contact: Kenneth E. MacNeill, President & C.E.O. or Harvey Bay, C.F.O. at (306) 664-2202/
