Business
Royal Gold Announces Commencement of Public Offering of Mandatory Convertible Preferred Stock
DENVER, Nov. 5 /CNW/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX:RGL), the leading publicly-traded pre...
About this update from Red Lake Gold Inc
[{"type":"text","content":"\n\n\n\nDENVER, Nov. 5 /CNW/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX:RGL), the\nleading publicly-traded precious metals royalty company, today announced that\nit has commenced a public offering of 1.0 million shares of its mandatory\nconvertible preferred stock ("Preferred Stock") for $100.00 per share. The\nPreferred Stock will be mandatorily convertible into shares of Royal Gold\ncommon stock on November 15, 2010. The underwriters have an option to\npurchase up to an additional 150,000 shares of Preferred Stock to cover\nover-allotments, if any.\n\n\nThe Company currently intends to use the net proceeds from this offering\nfor acquisitions of additional royalty interests as further described in the\nprospectus supplement for the offering.\n\n\nMerrill Lynch & Co. is acting as the sole book-running manager and HSBC\nis acting as co-manager for the offering.\n\n\nThe offering will be made pursuant to Royal Gold's effective shelf\nregistration statement filed with the Securities and Exchange Commission (the\n"SEC"). This press release shall not constitute an offer to sell or the\nsolicitation of an offer to buy, nor shall there be any sale of the Preferred\nStock in any state or jurisdiction in which such offer, solicitation or sale\nwould be unlawful prior to registration or qualification under the securities\nlaws of any such state or jurisdiction. Any offering of Preferred Stock will\nbe made only by means of a prospectus and prospectus supplement.\n\n\nCopies of the preliminary prospectus supplement and accompanying\nprospectus relating to this offering may be obtained by contacting Merrill\nLynch & Co., 4 World Financial Center, New York, New York 10080; Phone\n212-449-1000.\n\n\nRoyal Gold is a precious metals royalty company engaged in the\nacquisition and management of precious metals royalty interests. Royal Gold\nis publicly traded on the NASDAQ Global Select Market under the symbol "RGLD,"\nand on the Toronto Stock Exchange under the symbol "RGL." The Company's web\npage is located at http://www.royalgold.com.\n\n\nCautionary "Safe Harbor" Statement under the Private Securities\nLitigation Reform Act of 1995: This press release contains certain\nforward-looking statements. Factors that could cause actual results to differ\nmaterially from the forward looking stat...