Golden Minerals Announces Terms of US$75 Million Equity Financing
GOLDEN, CO, Oct 07, 2010 (MARKETWIRE via COMTEX) -- Golden Minerals Company
(NYSE Amex: AUMN) (TSX: AUM) ("Golden Minerals" or "the Company") is pleased to
announce that in connection with its overnight marketed public offering
previously announced on October 6, 2010 (the "Offering"), it has entered into an
underwriting agreement with a syndicate of underwriters led by Canaccord Genuity
Corp. and including Dundee Securities Corporation, Haywood Securities Inc.,
Rodman & Renshaw, LLC, Roth Capital Partners and Scarsdale Equities LLC (the
"Underwriters") to sell 4,055,000 shares of common stock of the Company at a
price of US$18.50 per share ("Common Shares") for gross proceeds of
US$75,017,500. In addition, the Company has granted the Underwriters an
over-allotment option to purchase up to that number of additional Common Shares
equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at
any time up to 5 days after the closing of the Offering.
In connection with the Offering, a preliminary short form prospectus has been
filed in Alberta, British Columbia and Ontario, and a preliminary prospectus
supplement has been filed with the United States Securities and Exchange
Commission (the "SEC").
The Company intends to use the net proceeds of the Offering for continued
exploration, underground drifting and project assessment at its El Quevar silver
project in northwestern Argentina, exploration of certain properties in Mexico,
Argentina and Peru and for working capital and other general corporate purposes.
The Offering is expected to close on or about October 21, 2010 and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals including the approval of the NYSE Amex, the Toronto Stock Exchange
and other securities regulatory authorities.
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