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DPM Announces Closing of C$54.65 Million Bought Deal Financing
DPM Announces Closing of C$54.65 Million Bought Deal Financing DPM Announces Closi...
About this update from Dpm Metals Inc.
[{"type":"text","content":"\n\n\n\nDPM Announces Closing of C$54.65 Million Bought Deal Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nDPM Announces Closing of C$54.65 Million Bought Deal Financing\nCanada NewsWire\nTORONTO, July 11, 2016\n\n\n\nTORONTO, July 11, 2016 /CNW/ - Dundee Precious Metals Inc. (TSX: DPM) (\"DPM\" or the \"Company\") is pleased to announce that it has closed its previously announced bought deal financing with a syndicate of underwriters led by RBC Capital Markets, and including CIBC Capital Markets, Dundee Securities Ltd., GMP Securities L.P., Paradigm Capital Inc., Scotia Capital Inc., and BMO Capital Markets (collectively, the \"Underwriters\"), pursuant to which the Company issued 18,216,000 common shares of the Company (each, a \"Share\") at a price of C$3.00 per Share, for aggregate gross proceeds of C$54,648,000 (the \"Offering\"). The financing included the initial agreement to acquire 15,840,000 Shares and exercise in full by the Underwriters of the over-allotment option for an additional 2,376,000 Shares.\n\nConcurrent with the Offering, the Company has also closed its previously announced non-brokered private placement (the \"Non-Brokered Private Placement\") of 840,000 Shares at a price of C$3.00 per Share, for additional gross proceeds of C$2,520,000.  The Non-Brokered Private Placement was sold to a wholly-owned subsidiary of Dundee Corporation.\n\nThe Company plans to use the net proceeds from the Offering and the Non-Brokered Private Placement to reduce drawdowns under its revolver credit facility, support advancing its growth initiatives and for general corporate purposes.\n\nFORWARD-LOOKING STATEMENTS\n\nThis news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as \"plan,\" \"expect,\" \"project,\" \"intend,\" \"believe,\" \"anticipate\" and other similar words, or statements that certain events or conditions \"may\" or \"will\" occur. Forward-looking statements are based on the opinions and estimates of management at the date th...