Business
Farallon Closes Bought Deal Financing
Farallon Closes Bought Deal Financing
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"\n\n\n\nOct. 8, 2009 (Canada NewsWire Group) -- VANCOUVER, Oct. 8 /CNW/ -- Farallon Mining Ltd. (\"Farallon\" or the \"Company\") (TSX:FAN) is pleased to announce that it has closed its previously announced bought deal financing (the \"Offering\"). Under the Offering, the Company issued 27,710,975 common shares (the \"Common Shares\"), including the common shares issued upon the full exercise of the underwriters' over-allotment option, at a price of C$0.415 per Common Share, for aggregate gross proceeds of approximately C$11.5 million. The Offering was co-led by Paradigm Capital Inc. and Raymond James Ltd. and included Wellington West Capital Markets Inc. The Common Shares were offered in Canada by way of a short form prospectus and in the United States by way of private placement pursuant to available exemptions of the United States Securities Act of 1933, as amended.Proceeds from the Offering will be used to commence G-9 Mine mill expansion to 2,000 tpd, exploration drilling at Campo Morado, as well as other corporate and working capital purposes.Farallon's G-9 zinc, copper, silver, gold and lead mine at the Campo Morado Property in Mexico reached commercial production in April 2009. The Company is targeting to produce at an annualized production rate of 120 million pounds of zinc and 15 million pounds of copper per year.ON BEHALF OF THE BOARD OF DIRECTORSJ.R.H. (Dick) WhittingtonPresident & CEONo regulatory authority has approved or disapproved the informationcontained in this news releaseForward Looking InformationThis release includes certain statements that may be deemed \"forward-looking statements.\" All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects, or is targeting, are forward-looking statements. Although the Company believes that the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. The likelihood of future mining at Campo Morado is subject to a large number of risks and may require achievement of a number of technic...