Major Drilling announces exercise of over-allotment option in connection with its public offering of common shares

About this update from Major Drilling Group International Inc.

[{"type":"text","content":"\n\n\n\n\n\nTHIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE\n SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n\n\nMONCTON, NB, Oct. 21, 2011 /CNW/ - Major Drilling Group International\n Inc. (\"Major Drilling\" or the \"Corporation\") (TSX: MDI) is pleased to announce that it has received a notice from\n the syndicate of underwriters led by TD Securities Inc. and including\n Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities\n Inc., Beacon Securities Limited., Jennings Capital Inc. and Salman\n Partners Inc. (the \"Underwriters\"), exercising the over-allotment option to purchase an additional\n 885,000 common shares of the Corporation at a price of $11.90 per\n common share for aggregate proceeds of $10,531,500 (the \"Over-Allotment\"). The over-allotment option was granted to the Underwriters in\n connection with a previously announced offering of subscription\n receipts of the Corporation which were exchanged for common shares on\n the closing of the acquisition of Bradley Group Limited on September\n 30, 2011.\n\n\nClosing of the Over-Allotment is expected to occur on or about October\n 25, 2011.\n\n\nAbout Major Drilling\n\n\nBased in Moncton, New Brunswick, Major Drilling is one of the world's\n largest metals and minerals contract drilling service companies. To\n support its customers' mining operations, mineral exploration and\n environmental activities, Major Drilling maintains operations in\n Canada, the United States, South and Central America, Australia, Asia\n and Africa.\n\n\nThis press release may contain forward looking information within the\n meaning of applicable securities laws including, without limitation,\n those identified by the expressions \"expect\" \"intend\" and similar\n expressions to the extent they relate to Major Drilling. Forward\n looking information is not historical fact but reflects Major\n Drilling's current expectations regarding future results or events.\n Forward looking information is subject to a number of risks and\n uncertainties that could cause actual results or events to differ\n materially from current expectations, including the timing of the\n closing, the closing of the Over-Allotment, issue of the common shares,\n use of proceeds received from the Over-Allotment and general economic\n and industry conditions. Although Major Drilling...

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