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Timmins Gold Closes C$28,380,000 Bought-Deal Offering

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Timmins Gold Closes C$28,380,000 Bought-Deal Offering

 

 

 

 

 

 

Timmins Gold Corp. (TSX:TMM) (NYSE MKT:TGD) is pleased to confirm the closing of its previously announced bought-deal offering of 18,920,000 common shares of the Company inclusive of 2,250,000 Shares issued pursuant to the partial exercise of the underwriters’ over-allotment option, at a price of C$1.50 per Share for aggregate gross proceeds of C$28,380,000. The Shares were issued in a public offering in certain provinces of Canada pursuant to a short form prospectus dated February 4, 2014 filed with certain Canadian securities regulators, and were underwritten by a syndicate of underwriters led by RBC Dominion Securities Inc. and including BMO Nesbitt Burns Inc., TD Securities Inc., GMP Securities L.P., National Bank Financial Inc., Scotia Capital Inc. and PI Financial Corp.

 

The estimated net proceeds of the Offering will be C$26,635,000 after deducting fees and expenses of the Offering. The Company intends to use the net proceeds of the Offering to partially repay the amount outstanding under its credit facility with Sprott Resource Lending Partnership pursuant to the terms of a credit agreement between the Company and Sprott dated May 27, 2011, as amended, with the balance of the net proceeds of the Offering to be retained by the Company for working capital.

 

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 state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States 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.

Posted February 11, 2014

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