Business
Norsemont Mining Closes C$20M Bought-Deal Financing
Norsemont Mining Closes C$20M Bought-Deal Financing
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\nNov. 3, 2009 (Canada NewsWire Group) -- TORONTO, Ontario and LIMA, Peru, Nov. 3 /CNW/ -- Norsemont Mining Inc. (TSX: NOM, BVL: NOM) (\"Norsemont\", the \"Company\") today announced the closing of its previously announced bought-deal financing arranged by a syndicate of underwriters, led by Scotia Capital Inc. and including Cormark Securities Inc., Paradigm Capital Inc. and Wellington West Capital Markets Inc. (\"the Underwriters\").Under the offering, the Company has issued 8,515,000 Units (the \"Units\") consisting of 8,515,000 common shares and 4,257,500 common share purchase warrants at a price of $2.35 per Unit, representing an aggregate issue amount of $20,010,250 (the \"Offering\"). Each whole warrant is exercisable for one common share at an exercise price of $2.75 per share on or before April 30, 3011. The Units were offered in Canada by way of a short form prospectus and in the United States by way of private placement pursuant to available registration exemptions.Norsemont also granted the Underwriters an option, exercisable in whole or in part at any time prior to 30 days after closing of the Offering, to purchase an additional 1,277,250 Units for additional gross proceeds of up to $3,001,537.The Sentient Group (\"Sentient\"), which currently owns approximately 25% of the fully diluted shares of the Company, agreed to purchase such number of Units from the Offering that represents 25% of the aggregate, including the exercise of any over-allotments.The net proceeds of the Offering will be used to advance the Company's Constancia Copper Project, in particular to fund early development initiatives following the recent completion of the Constancia definitive feasibility study, to support accelerated exploration of the nearby Pampacancha, Yanaccaca, Uchucarco and Chilloroya South discoveries and for general corporate purposes.The Units being offered have not been and will not be registered under the United States Securities Act of 1933 and state securities laws. Accordingly, the Units may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.About NorsemontNorse...