Owner
Post by Franko10 ™ on Mar 22, 2005 10:08:41 GMT -5
Shore Gold announces closing of $116,600,000 equity financing and strategic investment by Newmont
09:48 EST Tuesday, March 22, 2005
Stock Symbol: SGF: TSX
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
SASKATOON, March 22 /CNW/ - Kenneth E. MacNeill, President and Chief Executive Officer of Shore Gold Inc. ("Shore") is pleased to announce the successful closing of the Company's $116.6 million bought deal equity financing involving the sale of 21,200,000 Common Shares of Shore.
A syndicate of underwriters led by Genuity Capital Markets including GMP Securities Ltd., Orion Securities Inc., BMO Nesbitt Burns Inc., RBC Capital Markets, Scotia Capital Inc., Loewen, Ondaatje, McCutcheon Limited and Wellington West Capital Markets Inc. acted as underwriters for the offering.
Ken MacNeill, President and CEO of Shore, said, "I am pleased with the efforts of everyone involved in expediting this financing which will enable Shore to aggressively pursue the advancement of the Star Project. The significant participation of Newmont Mining Corporation of Canada Limited ("Newmont") and continued support of Magma Diamond Resources Ltd. in maintaining their interest is a valued vote of confidence for the Company."
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 participated in the offering. Newmont has invested approximately $50.9 million to purchase 9,249,000 shares 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.
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company 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'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 will derive from them.
/For further information: Kenneth E. MacNeill, President & C.E.O., or Harvey Bay, C.F.O., at (306) 664-2202/
09:48 EST Tuesday, March 22, 2005
Stock Symbol: SGF: TSX
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
SASKATOON, March 22 /CNW/ - Kenneth E. MacNeill, President and Chief Executive Officer of Shore Gold Inc. ("Shore") is pleased to announce the successful closing of the Company's $116.6 million bought deal equity financing involving the sale of 21,200,000 Common Shares of Shore.
A syndicate of underwriters led by Genuity Capital Markets including GMP Securities Ltd., Orion Securities Inc., BMO Nesbitt Burns Inc., RBC Capital Markets, Scotia Capital Inc., Loewen, Ondaatje, McCutcheon Limited and Wellington West Capital Markets Inc. acted as underwriters for the offering.
Ken MacNeill, President and CEO of Shore, said, "I am pleased with the efforts of everyone involved in expediting this financing which will enable Shore to aggressively pursue the advancement of the Star Project. The significant participation of Newmont Mining Corporation of Canada Limited ("Newmont") and continued support of Magma Diamond Resources Ltd. in maintaining their interest is a valued vote of confidence for the Company."
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 participated in the offering. Newmont has invested approximately $50.9 million to purchase 9,249,000 shares 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.
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company 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'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 will derive from them.
/For further information: Kenneth E. MacNeill, President & C.E.O., or Harvey Bay, C.F.O., at (306) 664-2202/
