WHT which is greatly undervalued...
VANCOUVER, BRITISH COLUMBIA, Aug 7, 2003 (CCNMatthews via COMTEX) --
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Wheaton River Minerals Ltd. is pleased to announce that it has entered into an agreement with Griffiths McBurney & Partners and a syndicate of underwriters including BMO Nesbitt Burns Inc., Canaccord Capital Corporation, Orion Securities Inc. and Sprott Securities Inc., which have agreed to purchase, on a bought deal basis, 38,095,239 units of the Company at a purchase price of C$2.10 per unit, for aggregate gross proceeds of approximately C$80 million. The underwriters will also have the option to purchase up to an additional 9,523,810 units at the issue price on or prior to the filing of the (final) short form prospectus in respect of the offering. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering will be C$100 million. Each unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company at a price of C$3.10 for a period of five years following closing. The Company plans to use the net proceeds of this financing for the advancement of its mineral properties, potential acquisitions and for general corporate purposes.
The common shares and warrants comprising the units to be issued under this offering will be offered by way of a short form prospectus in all of the provinces in Canada and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities act of 1933, as amended.
The offering is scheduled to close on or about August 25, 2003 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.
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.
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of hi
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