Kinross announces public equity offering - 20.9 million shares at US$17.25 per share - Gross proceeds approximately US$360.5 million

About this update from Kinross Gold Corporation

[{"type":"text","content":"\n\n\n\nTORONTO, Jan. 21 /CNW/ - Kinross Gold Corporation (TSX: K; NYSE: KGC)\n("Kinross" or the "Company") announced today that it has entered into an\nagreement with a syndicate of underwriters led by UBS Securities Canada Inc.\nfor a bought deal public offering of 20.9 million common shares of Kinross at\na price of US$17.25 per common share. The Company has also granted to the\nunderwriters an over-allotment option, exercisable for a period of 30 days\nfrom the date of closing of the offering, to purchase up to an additional\n3,135,000 common shares at the offering price.\n\n\nThe gross proceeds of the offering will be approximately US$360.5 million\n(US$414.6 million if the over-allotment option is exercised in full). The\nCompany intends to use the net proceeds of the offering to enhance its capital\nposition following the funding of recent acquisitions and for general\ncorporate purposes.\n\n\nThe common shares will be offered by way of a short form prospectus in\nall of the provinces of Canada and will be registered in the United States\npursuant to a registration statement filed under the multi-jurisdictional\ndisclosure system, and may also be offered on a private placement basis in\ncertain jurisdictions outside of Canada and the United States pursuant to\napplicable prospectus exemptions. A registration statement relating to these\nsecurities has been filed with the United States Securities and Exchange\nCommission but has not yet become effective. The securities may not be sold\nnor may offers to buy be accepted prior to the time the registration statement\nbecomes effective. This press release shall not constitute an offer to sell or\nthe solicitation of an offer to buy nor shall there be any sale of these\ncommon shares in any jurisdiction in which such offer, solicitation or sale\nwould be unlawful prior to registration or qualification under the securities\nlaws of any such jurisdiction.\n\n\nThe offering is scheduled to close on or about February 5, 2009 and is\nsubject to certain customary terms and conditions, including normal regulatory\napprovals, including the approval of the Toronto Stock Exchange. A copy of the\nprospectus relating to the securities may be obtained in Canada from UBS\nSecurities Canada Inc. at 161 Bay Street, Suite 4100, Toronto, Ontario M5J\n2S1, or in the United Sta...

More updates from Kinross Gold Corporation