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Lundin Gold Closes C$57.5 Million Bought Deal Financing

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Lundin Gold Closes C$57.5 Million Bought Deal Financing

 

 

 

 

 

Lundin Gold Inc.  (TSX: LUG) (Nasdaq Stockholm: LUG) is pleased to report that it has closed the previously announced bought deal equity offering.  A total of 4,772,500 common shares were issued at a price of C$12.05 per Share for gross proceeds of approximately C$57.5 million, which includes the exercise, in full, of the underwriter’s over-allotment option of an additional 622,500 Shares.  The Offering was conducted by BMO Capital Markets.

 

The Offering was completed pursuant to a short form prospectus dated June 8, 2020 in all the provinces and territories of Canada (other than Quebec), and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) and applicable state securities laws and other jurisdictions outside of Canada on an exempt basis. The Offering remains subject to the final approval of the Toronto Stock Exchange.

 

The net proceeds of the Offering are planned to be used to study increased throughput, resource expansion potential at Fruta del Norte, as well as for potential COVID-19 related costs and for general working capital purposes, as more fully described in the Prospectus.

 

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

About Lundin Gold

 

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador.  Fruta del Norte is among the largest and highest-grade gold deposits in the world.

 

The Company’s board and management team have extensive expertise in mine operations and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices.  Lundin Gold is committed to delivering value to its shareholders, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.  The Company believes that the value created through the operation of Fruta del Norte will benefit its shareholders, the Government and the citizens of Ecuador.

 

Posted June 11, 2020

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