LUNDIN MINING ANNOUNCES BOUGHT DEAL FINANCINGLundin Mining Corp. has entered into an agreement with a syndicate of underwriters led by GMP Securities LP and including BMO Capital Markets, Scotia Capital Inc., Canaccord Capital Corp., Cormark Securities Inc., Dundee Securities Corp., Haywood Securities Inc. and Macquarie Capital Markets Canada Ltd. (underwriters), which have agreed to purchase, on a bought-deal basis, 80 million common shares of Lundin at a price of $2.05 per share, for gross proceeds of $164-million. The underwriters will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 12 million common shares to cover overallotments, if any, and for market stabilization purposes. In the event that the option is exercised in its entirety, the gross proceeds of the offering will be approximately $188.6-million.
Looks like they bought some more time.
Cheers,
JR.