$US 75 Mill @ 18.50And NO warrants.
Pretty fine, I'd say.
Golden Minerals Company (NYSE Amex: AUMN) (TSX: AUM) ("Golden Minerals" or "the Company") is pleased to announce that in connection with its overnight marketed public offering previously announced on October 6, 2010 (the "Offering"), it has entered into an underwriting agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and including Dundee Securities Corporation, Haywood Securities Inc., Rodman & Renshaw, LLC, Roth Capital Partners and Scarsdale Equities LLC (the "Underwriters") to sell 4,055,000 shares of common stock of the Company at a price of US$18.50 per share ("Common Shares") for gross proceeds of US$75,017,500. In addition, the Company has granted 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.
In connection with the Offering, a preliminary short form prospectus has been filed in Alberta, British Columbia and Ontario, and a preliminary prospectus supplement has been filed with the United States Securities and Exchange Commission (the "SEC").
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, the Toronto Stock Exchange and other securities regulatory authorities.
This press release does not constitute an