DGAP-News: Champion Minerals Inc.: Champion Announces $30 Million Bought Deal Financing
(firmenpresse) - DGAP-News: Champion Minerals Inc. / Key word(s): Agreement
Champion Minerals Inc.: Champion Announces $30 Million Bought Deal
Financing
20.02.2012 / 10:35
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February 17, 2012
Champion Announces $30 Million Bought Deal Financing
TORONTO, ONTARIO--(Marketwire - Feb. 17, 2012)
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES
Champion Minerals Inc. (TSX:CHM) ('Champion' or the 'Company') is pleased
to announce that it has entered into an agreement pursuant to which a
syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. (the
'Underwriters') has offered to purchase, on a bought deal basis, 15,000,000
common shares (the 'Shares') of the Company at a price of $2.00 per Share
(the 'Issue Price') for total gross proceeds of $30,000,000 (the
'Offering'). In addition, Champion has granted the Underwriters an
over-allotment option, exercisable for a period of 30 days following
closing, to purchase up to an additional 2,250,000 Shares which, if
exercised, would increase the Offering size to $34,500,000.
The net proceeds from the Offering will be used for exploration and
development of the Company's mineral properties in the Labrador Trough and
for general working capital purposes.
The closing of the Offering is expected to occur on or about March 12, 2012
and is subject to receipt of all necessary regulatory approvals.
This news release does not constitute an offer to sell or a solicitation of
an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the 'U.S. Securities Act'), or any state
securities laws and may not be offered or sold within the United States
unless an exemption from such registration is available.
About Champion Minerals Inc.
Champion Minerals is an iron ore exploration and development company with
offices in Montreal and Toronto, focused on developing its significant iron
ore resources in the provinces of Quebec and Newfoundland&Labrador. The
Company's projects include: the Fermont Holdings in Quebec, jointly held by
Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest);
and a 49% interest in the Attikamagen Iron Property in Quebec and Labrador.
Champion's Fermont Holdings, including the flagship Fire Lake North
Project, are located in Canada's major iron ore producing district,
proximal to four producing mines. Champion's team and advisory board
includes mining and exploration professionals with substantial iron ore
expertise, needed to effectively advance the Fire Lake North Project into
production.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
End of Corporate News
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157366 20.02.2012
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Datum: 20.02.2012 - 10:35 Uhr
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News-ID 116286
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