Business
Wesdome Gold Mines Ltd. announces up to C$7 million offering of senior unsubordinated convertible debentures
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/...
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.\n NEWSWIRE SERVICES/\n\n\nTORONTO, April 30, 2012 /CNW/ - Wesdome Gold Mines Ltd. (TSX: WDO) (the\n \"Company\" or \"Wesdome\") is pleased to announce a proposed non-brokered\n private placement offering of senior unsubordinated convertible\n debentures (\"Debentures\") in the aggregate principal amount of up to\n C$7 million (the \"Offering\"). The term of the Debentures will be five\n years from the date of closing of the Offering.  The Debentures will\n bear interest at a rate of 7% per annum payable semi-annually and will\n be convertible into common shares of the Company at a price of $2.50\n per common share.  The Company will apply to list the Debentures to be\n issued under the Offering on the Toronto Stock Exchange (the \"TSX\").\n Listing on the TSX is subject to Wesdome fulfilling all of the\n requirements of such exchange.\n\n\nWesdome may pay finder's fees to eligible persons of up to 3% of the\n aggregate gross proceeds of the Offering in cash.\n\n\nThe Company intends to use the net proceeds from the Offering toward the\n redemption of its existing debentures having an aggregate principal\n amount of $11,000,000 and maturing on May 31, 2012.\n\n\nThe Offering is expected to close on or about May 18, 2012 and is\n subject to certain closing conditions including, but not limited to,\n the receipt of all necessary approvals such as the approval of the TSX.\n\n\nThis news release does not constitute an offer to sell or a solicitation\n of an offer to buy any of the securities in the United States. The\n securities have not been and will not be registered under the United\n States Securities Act of 1933, as amended (the \"U.S. Securities Act\"),\n or any state securities laws, and may not be offered or sold within the\n United States unless registered under the U.S. Securities Act and\n applicable state securities laws or an exemption from such registration\n is available.\n\n\nABOUT WESDOME\n\n\nWesdome is celebrating its 25th year of continuous mining operations in Canada.  It currently has three\n producing gold mines with wholly-owned mining and milling complexes\n located in Wawa, Ontario and Val d'Or, Québec.  The Company has\n approximately 101.88 million shares issued and outstanding and trades\n on the ...