Golden Minerals Announces Equity Financing*Note at the bottom information about a conference call for shareholders at 5pm eastern....hopefully someone on this board can listen in and report as I won't be able to make it.
GOLDEN, CO, Oct 06, 2010 (MARKETWIRE via COMTEX) --
Golden Minerals Company (NYSE Amex: AUMN) (TSX: AUM) ("Golden
Minerals" or "the Company") is pleased to announce that it has filed
a preliminary short form prospectus in Alberta, British Columbia and
Ontario, and a preliminary prospectus supplement with the United
States Securities and Exchange Commission (the "SEC") in connection
with an overnight marketed public offering (the "Offering") of the
Company's common stock ("Common Shares"). The preliminary prospectus
supplement filing in the United States was made pursuant to an
effective U.S. shelf registration statement. The Offering will be
conducted through a syndicate of underwriters led by Canaccord
Genuity Corp. (the "Underwriters"). The Company will also grant the
Underwriters an over-allotment option to purchase up to that number
of additional Common Shares equal to 15% of the Common Shares sold
pursuant to the Offering, exercisable at any time up to 5 days after
the closing of the Offering.
The Offering will be priced in the context of the market with final
terms of the Offering to be determined at the time of pricing. The
Company intends to use the net proceeds of the Offering for continued
exploration, underground drifting and project assessment at its El
Quevar silver project in northwestern Argentina, exploration of
certain properties in Mexico, Argentina and Peru and for working
capital and other general corporate purposes.
The Offering is expected to close on or about October 21, 2010 and is
subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval of the NYSE
Amex and the Toronto Stock Exchange and other securities regulatory
authorities.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, and there shall not be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful.
Any offer or sale will be made only by means of a short form
prospectus in Canada or by means of a prospectus supplement in the
United States. A preliminary short form prospectus containing
important information relating to the Common Shares being distributed
under the Offering has been filed with the securities regulatory
authorities in the Provinces of British Columbia, Alberta and
Ontario, and a preliminary prospectus supplement has been filed with
the SEC . The preliminary short form prospectus is still subject to
completion or amendment. A copy of the preliminary prospectus
supplement and the accompanying base shelf prospectus relating to the
Offering is available on EDGAR at www.sec.gov and a copy of the
preliminary short form prospectus relating to the Offering is
available on SEDAR at www.sedar.com. When available, copies of the
preliminary prospectus supplement may be obtained in the United
States by contacting Canaccord Genuity Inc. at 525 Madison Av., 2nd
Floor, New York, NY, USA 10022, 1-212-849-3973, and, when available,
copies of the preliminary short form prospectus may be obtained in
Canada by contacting Canaccord Genuity Corp. at 161 Bay St., Suite
3000, Toronto ON, Canada M5J 2S1, 416-869-7368. There will not be any
sale or any acceptance of an offer to buy the Common Shares being
distributed under the Offering until a final prospectus supplement
has been filed with the SEC and a receipt for the final short form
prospectus has been issued in Canada.
Golden Minerals' management will be hosting an investor call today at
5:00pm EST to discuss this financing and answer investor questions.
To access the call, the following numbers can be used: North America
toll-free dial in number: 1-877-353-9586; International dial in
number: 403-532-8075 - Participant Pass Code: 13978#. A replay of the
call will be available for one week at: North America toll-free dial
in number: 1-877-353-9587; International dial in number: 403-699-1055
- Participant Pass Code: 388559#.