SUE.TO $75M financing @1.73 per share...43.4K Shares...
Art
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Sulliden Announces $75 Million Bought Deal FinancingTORONTO, ONTARIO--(Marketwire - Nov. 3, 2011) -
NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Sulliden Gold Corporation Ltd. ("Sulliden", the "Company") (TSX:SUE)(OTCQX:SDDDF)(BVLAC:SUE) is pleased to announce that it has entered into an agreement with National Bank Financial Inc. and Cormark Securities Inc. as co-lead underwriters on behalf of a syndicate of underwriters to be formed (the "Underwriters"), for the issuance of 43,353,000 common shares (the "Shares") of the Company, on a bought deal basis, at a price of $1.73 per Share for gross proceeds of $75,000,690 (the "Offering").
The Company will also grant to the Underwriters an option, exercisable at any time until 5:00 p.m. on the 30th day following the closing, to purchase up to an additional 6,500,000 Shares.
The net proceeds from the Offering will be used by the Company to expand the exploration program at the Shahuindo project given recent exploration results, to acquire the existing net smelter royalty on the Shahuindo project, to acquire additional mining concessions adjacent to the Shahuindo project, and to fund other advancement activities at the Shahuindo Property and for general corporate purposes.
The Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada pursuant to National Instrument 44-101 Short Form Prospectus Distributions.
The Offering is scheduled to close on or about November 29, 2011 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 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 "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
ABOUT SULLIDEN
Sulliden is a Canadian-based precious metals company focused on the exploration and development of the Shahuindo Gold and Silver Project, located in a prolific gold producing district in northern Peru. This project neighbours world class mines, including Barrick Gold's Lagunas Norte Mine 30 kilometres to the south and the Yanacocha Mine operated by Newmont Mining Company 80 kilometres to the north. While the Company progresses towards its goal of becoming a gold producer, a significant focus is also being placed on exploration drilling. Sulliden is led by a strong management team with the proven ability to develop, finance and operate mining projects and is poised to generate superior value for its shareholders.
On behalf of Sulliden Gold Corporation Ltd.
Peter Tagliamonte
President and CEO
Stan Bharti
Chairman
For further information on Sulliden please visit the company website at www.sulliden.com.
****My uninformed opinion only...do your own due diligence****
